A Senior Special Assistant of Reserve Bank of India (RBI) has been arrested by CBI on Tuesday from Bengaluru for alleged involvement in illegal exchange of currency notes, reports news agency ANI.

NDTV reported that the official allegedly helped the touts in exchange of Rs 1.51 crore. The arrest comes at a time when frequent raids by ED officials and police have led to confiscation of huge sums of money in form of new currency notes from across the country.

WATCH VIDEO : Guwahati: More Than Rs 1.54 Crore In New Currency Notes Seized From Businessman’s House

Earlier on Tuesday, seven middlemen were nabbed by ED in Karnataka with Rs 93 lakh cash in form of new notes. The Home Ministry has taken cognizance of the matter as reports of senior bank officials being involved in the illegal exchange are surfacing.

Till now, more than Rs 250 crore has reportedly been seized in multiple raids across the country since announcement of demonetisation move by Prime Minister Narendra Modi on November 8.

The ruling party is also facing criticism from opposition for its ‘poor implementation of the scheme’. Former Finance Minister P Chidambaram addressed the media in Nagpur on Tuesday and termed demonetisation as the ‘biggest scam of the year’.

Further details are awaited

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