Maha govt wants RBI to safeguard old notes seized in graft cases
The home department, in its letter to the government, has sought permission to deposit the currency into bank and issue promisary notes against the seizure...mumbai Updated: Dec 29, 2016 13:00 IST
The state government has written to the Centre to acknowledge the old notes that have been seized in graft cases and are in the custody of various courts.
According to the estimates, banned notes in the seized stock account for crores of rupees. The government is apprehensive as the old notes will lose value after December 30.
The home department, in its letter to the government, has sought permission to deposit the currency into bank and issue promisary notes against the seizure. “I have spoken to deputy governor of Reserve Bank of India and officials from the Bombay high court on the issue. In cases which go against us, the seized amount is paid back to the accused, while in other cases it is deposited in the treasury. A major chunk of the seized amount is in banned notes,” said Sudhir Mungatiwar, finance minister. “We will not be in position to bear the burden if the notes lose their value. We have requested the Centre to resolve the issue to safeguard the currency notes in the custody.”
The home department is also apprehensive about the currency. “Thousands of cases of government servants caught accepting bribes are pending in various courts,” said an official from the home department.
Mungantiwar said the government is checking on the quantum of the amount in custody of the court and treasury. “We are not objecting to maintaining old notes as evidence. We have asked the RBI to keep them in its custody and release only after the result of the case. The Bombay high court has also told us that it has no problem if the RBI allows us to deposit the notes,” he said.