Nagpur, 30 Dec (HS): A racket converting ₹2,000 denomination currency notes, withdrawn from

circulation by the Reserve Bank of India (RBI), on a commission basis has been

uncovered by Nagpur Police, leading to the arrest of a peanut seller and three

others.

The investigation

took a surprising turn when the trail led to Nandalal Maurya, a peanut seller

operating near Samvidhan Square, home to the RBI office and Maharashtra Vidhan

Bhavan. Maurya allegedly hired impoverished individuals to exchange the ₹2,000

notes legally at the RBI in return for a commission, police said on Sunday.

The other

arrested individuals include Rohit Bawne (34), and Kishore Bahoriya (30). Anil Jain

(56) of Jabalpur in Madhya Pradesh is believed to be the mastermind of the scam.

Police seized ₹60,000 - 120 notes of ₹500

from Maurya’s residence; ₹62,500, including a ₹2,000 note and 120 notes of ₹500

from Bawne, and ₹80,000 - 160 notes of ₹500 from Bahoriya.

How the Racket Operated

Police said Jain orchestrated the racket by collecting ₹2,000 notes from

various sources and engaging Maurya to exchange them at the RBI. Maurya was

reportedly paid ₹200 for every 10 notes exchanged by him.

After learning the process, Maurya

recruited a few men and women, offering them a daily commission of ₹300 to

exchange notes using their Aadhaar (UID) card details. The exchanged ₹500 notes

were then handed over to Jain.

The RBI

announced the withdrawal of ₹2,000 banknotes from circulation on May 19, 2023, permitting legal exchanges at designated

facilities.

Police Action

Acting on a tip-off, police raided Maurya’s residence on Saturday, unearthing

evidence of the operation. Initial investigations reveal that Jain, suspected

to possess a significant amount of demonetized currency, was directing the

racket from behind the scenes.

The accused have been charged, and

further investigations are underway to trace the full extent of the illegal

operation.

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Hindusthan Samachar / Ajay Vasant Mardikar