The Central Bureau of Investigation (CBI) officials on Thursday conducted big and simultaneous raids on as many as eight post offices in Hyderabad in the wake of information that postal staff is exchanging high value notes for a commission.
According to reports, the CBI officials have seized Rs 40 lakh cash in Himayatnagar Post Office.
The raids were conducted in General Post Office in Abids. Other post offices that have been raided till now by the CBI include Narayanguda and Chikkadpally. The CBI sleuths are quizzing the postal staff, inspecting their records and cash reserves related to transactions from November 9 onwards.
While announcing the currency ban the Modi-government had categorically said that the public can exchange their old notes at post offices also. Taking advantage of this announcement, some postal staff are allegedly exchanging huge volume of cash from back door at a commission of 30 percent.