Demonetisation: I-T officials launch probe into 'home-delivered' Rs 2,000 notes

Income Tax officials suspect that an organised racket 'home delivered' new banknotes from government presses or the Reserve Bank to certain people days after Prime Minister Narendra Modi's demonetisation announcement, according to a report in Hindustan Times.

 Demonetisation: I-T officials launch probe into home-delivered Rs 2,000 notes

Representational photo. PTI

Income tax officials launched a probe after they picked up an individual from a  south Delhi market who had Rs 20 lakh in new Rs 2000 notes which were packed and reportedly bore the seals of two government presses in Maharashtra and West Bengal.

The man, identified as Krishna Kumar, thought to be a courier waiting to deliver the money, was nabbed on 15 December after a tip-off from the Intelligence Bureau and charged with tax evasion. Officials also seized Rs 10,000 in Rs 10 notes.

Two senior officials said that this was the first time cash bearing the seals of government printing presses found their way to the public,  India TV reported.

One of the officials said they were waiting for the Reserve Bank to share information with them. "If the printing press or the Reserve Bank chest is compromised, those loopholes need to be plugged," the official was quoted as saying. Cash management companies, which are used to move money from the Reserve Bank of India to banks, have come under the scanner.

These mini packs may have been printed at Nashik and Salboni presses, which have printed 52 million notes a day since the government's demonetisation move on 8 November. One thousand notes of different denominations are bundled together and sent to the Reserve Bank of India using cash management companies. These packs are then broken down into bundles of hundreds, wrapped in bank labels and given to customers at branches or ATMs.



Updated Date: Jan 11, 2017 14:05:51 IST