CBI To Arrest Postal Officials For Converting Black Money With New Currency 

Hyderabad: The CBI on Monday registered a case against a senior superintendent and two other employees of Himayath Nagar post office for diverting the new currency to private parties in exchange for black money. After the demonetization, banks and post offices have been assigned with the exchange of currency and new Rs2,000 notes have been supplied to banks and post offices. Each person is entitled for an exchange of Rs4,000 but it was reduced to Rs2,000 and subsequently the facility was closed on November 24.

However, there have been widespread rumors that bank as well as postal officials misused their powers and instead of using the new currency for general public, they diverted it in big amounts to some individuals at a heavy commission. The CBI inquiry is reported to have confirmed the role of K. Sudheer Babu, Hyderabad city division senior superintendent, sub-postmaster G. Revathi and another employee at Himayath Nagar post office in diversion of Rs70 lakh.

The CBIis going to arrest the three officials anytime soon.