The CBI registered a case against a State Bank of India (SBI) cashier in Hyderabad on Thursday on the charge of exchanging Rs 1.09 crore in demonetised currency with legal tender.
The central agency booked K Srihari, head cashier in SBI's Nehru Ganj Branch, and others for criminal conspiracy, criminal breach of trust, cheating and falsification of accounts under the Indian Penal Code and Prevention of Corruption Act.
"Srihari entered into a criminal conspiracy with unidentified private persons and fraudulently facilitated and exchanged Rs 1.09 crore in demonetised currency with legal currency," a Central Bureau of Investigation (CBI) official said.
He said the exchange was effected during November 10-30 last year by using "SWAP methodology and violated the Reserve Bank of India guidelines to exchange specified bank notes with legal tender".
The government had declared Rs 1,000 and Rs 500 notes as illegal tender from November 8 midnight.
The CBI conducted searches at the residence of the accused at Kotnoor in Karnataka's Gulbarga district and seized incriminating documents.
In fact, just two weeks ago, the CBI has arrested two senior State Bank of India (SBI) officials in Andhra Pradesh for misappropriating funds of around Rs 12.40 lakh by violating the RBI guidelines imposed during demonetisation.
Senior Special Assistant M. Sultan Mohiuddin and Deputy Manager (Operations) IJ Raja Sekhar, employed at SBI's Buchireddypalem branch in Andhra Pradesh's Nellore district, were held during a raid conducted at their official and residential premises.
A CBI official said the bank officials were booked for criminal conspiracy, cheating, criminal breach of trust and under the Prevention of Corruption Act.
"It was alleged that the officials entered into a criminal conspiracy with some private persons between November 15 and 25 when demonetisation was in force and restrictions on distribution of currency notes were in place," said the official.