HYDERABAD: After several persons, including businessmen, were nabbed by the city police and crores of rupees of demonetised currency was seized from them, police have started suspecting the role of NRIs in the racket, taking advantage of some loopholes in the rules.
The Task Force police have formed special teams and kept close vigil on the financial activities of NRIs. “RBI allows NRIs to exchange demonetised notes by submitting documents of their tour details. The NRIs are allowed to exchange `25,000 as per the Act after demonetisation. We suspect some gangs are indulging in collecting demonetised notes from businessmen at 30 per cent commission with assistance from NRIs,” said B Limba Reddy, DCP (Task Force).
It is also reported that some persons who went to foreign countries on tourist visas were lured by middlemen who offered them commission on the old notes exchanged. In that case, police are relying on the call detail record of those in custody to trace NRI suspects. Police are verifying the call data of middlemen and businessmen who had conversations with the suspected NRIs and their family members.
It’s learnt that a majority of businessmen who hail from various states, including Rajasthan, did not deposit money in banks before the stipulated time as per RBI rules. The city police have arrested 70 people for possessing demonetised notes and seized old notes worth ` 10 crore since March.