Senior RBI official arrested for illegal exchange of ₹1.50cr
The CBI has arrested a senior Reserve Bank of India (RBI) official K Micheal in Bengaluru for alleged involvement in illegally converting old notes worth at least ₹1.50 crore. More than ₹16 lakh in new currency has been recovered from the accused posted as Senior Special Assistant with the RBI. Notably, Bengaluru has topped in income tax probes after demonetisation.