In a joint operation conducted by the Income Tax Department and Crime Branch of the Delhi police, around Rs 3.25 crore in old notes were seized from a hotel in Delhi’s Karol Bagh on Wednesday. Investigations have shown that the money belonged to a hawala operator from Mumbai. According to reports, the notes were packed in a way so that the airport scanning machines could not detect it.
On Wednesday, K Michael, a Senior Special Assistant employed with the Reserve Bank of India (RBI) in Bengaluru was arrested by the CBI after it was found that he was aiding a currency exchange racket.(ONE INDIA,2016)