Notes scrapped in 2016 still priceless for exchange agents

Vadodara: While the government may have scrapped Rs 500 and Rs 1,000 currency notes way back in 2016, attempts to exchange these are still being made even as doors for this have been closed long back.
The Panchmahal police had made yet another seizure of demonetized currency on Saturday night. Four persons including two teachers were detained and questioned in connection with the seizure.It were the teachers who had promised to exchange the scrapped notes with valid ones.
The teachers Nilesh Patel and Rangit Patel, both residents of Lukhawada in Limkheda taluka of Dahod district, had promised Badiya Ninama from Dahod that they would exchange the notes. The teacher duo was to take a cut for doing the job.
Ninama was to meet the teachers at Gadhchundadi village near Godhra in Panchmahal. He was on his way to Gadhchundadi along with one Rakesh Bhuriya in a SUV when he was nabbed by the local crime branch of Panchmahal police that had received information regarding currency. Scrapped currency amounting to Rs 48.8lakh was seized from the duo. Nilesh and Rangit were also held near Gadhchundadi. Police sub-inspector I A Sisodiya said that Bhuriya had claimed that he was given the notes by his brother. What is surprising is that Bhuriya and his brother are not involved in any business that would generate black money. Sisodiya said that they used to work at construction sites.
“The notes would have been useless even for the teachers as they would not have been able to exchange it anywhere. The RBI has stopped doing so long time back,” said Sisodiya.