Sadar police in Nagpur arrested four individuals on charges of operating a racket involving the exchange of now-withdrawn Rs 2,000 currency notes for Rs 500 notes. The racket was uncovered after authorities noticed the frequent exchange of Rs 2,000 notes for Rs 500 at the Reserve Bank of India (RBI) through fake claimants.
The arrested individuals were identified as Nandlal Mourya, Rohit Bawane, Kishore Bahoriya, and Anil Kumar Jain. A significant amount of both Rs 2,000 and Rs 500 notes were recovered from their possession. Police investigations have linked the racket to Delhi’s grey market, where the exchanged Rs 500 notes were likely sent.
Mourya, a groundnut seller, allegedly earned substantial commissions for participating in the exchange process. Police revealed that Jain had enlisted Mourya, Bawane, and Bahoriya to facilitate the exchange of Rs 2,000 notes brought from Delhi and other parts of India. These individuals used their identification proofs to exchange the notes at the RBI.
Once they received Rs 500 notes in return, the exchanged notes were sent to other locations, including Delhi. The investigation is ongoing, and authorities are working to uncover the full scale of the racket and its network.
