Kolkata, March 3: Four months after Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1000 currency notes, the banned notes still continue to surface. In another such incident, five persons were arrested on Friday from Baguiati in Kolkata with Rs 51 lakhs in demonetised notes. Reports say that those arrested had come to get the demonetised currency exchange from an agent.Also Read - West Bengal Witnesses Spike in COVID Cases, Officials Blame Guideline Violation During Durga Puja
In Maharashtra, the Thane police on Wednesday said that they have seized Rs 2.25 crore in demonetised currency notes and detained six persons in the past one week. “On February 25, we seized Rs 46 lakh in demonetised currency and detained three persons. On February 27, the officials of the Thane crime branch detained one person and seized currency worth Rs 50 lakh,” Joint commissioner of Police Asuthosh Dhumre said. Also Read - Unaware of Demonetisation, Visually Challenged Beggar Seeks Exchange of RS 65,000 Life Savings
In Bhopal, the city police on Wednesday seized scrapped banned currency notes of Rs 500 and Rs 1,000, collectively worth Rs 9.70 lakh, and arrested two persons. “Based on a tip-off, we arrested Pramod Nair (40) and Sayyad Waqar Ali (46) and seized demonetised currency notes of Rs 500 and Rs 1,000 denominations worth Rs 9.70 lakh,” Piplani Police Station in-charge Mahendra Singh Chouhan told news agency PTI. Also Read - 6 New Flight Routes in North-East India Become Operational From TODAY. Details Inside
This comes even as the government has notified the law that makes holding of more than 10 scrapped notes punishable with a minimum fine of Rs 10,000. The Specified Bank Notes (Cessation of Liabilities) Act, 2017, was passed by Parliament last month to eliminate the “possibility of running a parallel economy” using the old notes that have been demonetised. According to the law, possession of more than 10 pieces of the old notes by individuals and more than 25 pieces for study, research or numismatics purpose will be a criminal offence, attracts a fine of Rs 10,000 or five times the cash held, whichever is higher. The Act also ends the liability of the Reserve Bank and the government on the demonetised currency notes.
Prime Minister Narendra Modi had on November 8, 2016 announced demonetisation of Rs 500 and Rs 1000 notes declaring them illegal tender. Thereafter, new notes of Rs 500 and Rs 2,000 were issued.