RBI official held for illegally exchanging old notes

An official of the Reserve Bank of India here has been arrested by CBI for allegedly trying to exchange Rs 1.50 crore in old notes illegally.

"The agency has arrested an RBI official from Bengaluru for helping convert banned currency notes," a CBI official told PTI here, adding the arrest was made last week.

"Two other private persons have also been arrested," the official said.

The RBI official was involved in a case where he tried to exchange Rs 1.50 crore of untaxed money, the official added.