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Mysterious Disappearance Of 500 Notes Worth 88,032.5 Cr Raises Security Concerns For Indian Economy

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While the Reserve Bank of India had a problem with an extra 339.95 million currency notes deposited in vaults between 1999-2010, more than the output of the government security printing presses, now, it is faced with an altogether different issue. While the mints issued 8,810.65 million pieces of the newly designed Rs 500 note, the RBI has only received 7,260 million.

Value of the missing notes is a staggering Rs 88,032.5 crore

No-one knows the whereabouts of the 1,760.65 million of Rs 500 notes which have mysteriously gone missing, taking into account the 210 million pieces printed in the Nashik mint between April 2015 and March 2016. The value of the missing notes is a staggering Rs 88,032.5 cr.

Despite repeated attempts, RBI spokesperson refuses to comment on the missing notes from RBI vaults

RBI spokesperson did not comment despite repeated attempts.

Data obtained under RTI

India prints its currency notes at three government mints – the Bharatiya Reserve Bank Note Mudran (P) Limited, Bengaluru, Currency Note Press, Nashik, and Bank Note Press at Dewas and sends them to the RBI vaults, for further distribution in the Indian economy.

According to data obtained under the Right to Information Act (RTI) by activist Manoranjan Roy, 375.450 million pieces of the newly designed Rs 500 note were printed by the Currency Note Press, Nashik, but RBI records having received only 345.000 million pieces printed between April 2015 and December 2016. In another RTI reply last month, the Currency Note Press, Nashik, said for the financial year 2015-2016 (April 2015-March 2016,) 210.000 million pieces of Rs 500 were supplied to the RBI when Raghuram Rajan was the RBI governor.

The Report of the Currency Note Press, Nashik, has shown the newly designed Rs 500 currency notes were supplied to the Central bank but the RBI annual report does not mention receiving any Rs 500 notes with the new design, in its Public Domain Annual Report on Currency Management. Further information provided by the Currency Note Press, Nashik, mentions 1,662.000 million pieces of the newly designed Rs 500 note were supplied to the RBI in 2016-2017.

Huge Mismatch

The Bharatiya Reserve Bank Note Mudran (P) Limited, Bengaluru, supplied 5,195.65 million pieces of Rs 500 to the RBI and the Bank Note Press, Dewas, supplied 1,953.000 million pieces to the RBI in 2016-2017, but the RBI has received only 7,260 pieces of the newly designed Rs 500 note from all three printing presses. There is a mismatch, as 8,810.65 million pieces of the newly designed Rs 500 note were printed by the three mints in all, but the RBI received only 7,260.000 pieces.

Missing pieces no joke

“The apex bank is indifferent to the harm caused to the Indian economy with such a huge mismatch in highdenomination Indian currency notes printed in the mints and the total received in the RBI vaults. The missing 1,760.65 million pieces is no joke. It raises security concerns about our Indian economy and its stability,” said Manoranjan Roy.

Activist has written to Central Economic Intelligence Bureau and ED

He has written to the Central Economic Intelligence Bureau and the Enforcement Directorate to investigate the irregularities in the millions of high-value currency notes printed in the three mints. Senior RBI officials have defended the mismatch, citing the huge logistics in the printing and supply of currency notes. But, it is strange it should take so long for notes to reach the RBI vaults.

Crime

Punjab Police arrest man for sharing sensitive information with Pak on Op Sindoor

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Chandigarh, June 3: Acting swiftly, Punjab Police have arrested Gagandeep Singh of Tarn Taran for sharing sensitive information concerning army movements during Operation Sindoor, Director General of Police Guarav Yadav said on Tuesday.

The accused had been in contact with the Pakistan’s ISI and Khalistani supporter Gopal Singh Chawla.

Investigations have revealed that he was engaged in sharing classified details, including troop deployments and strategic locations, posing a threat to national security, DGP Yadav wrote on the social media platform X.

Preliminary investigation revealed that Singh had been in touch with Pakistan-based Khalistani supporter Chawla for the past five years, through whom he was introduced to the Pakistani intelligence operatives.

He also received payments from operatives via Indian channels, the DGP said.

The police have recovered a mobile phone containing intelligence that Singh shared with Pakistan, as well as details of over 20 ISI contacts.

“Thorough financial and technical investigations are underway to trace other linkages and establish the full scope of this espionage network,” the DGP added.

A first information report (FIR) has been registered under the Official Secrets Act at the police station (city) in Tarn Taran town, and further investigation is in progress.

Earlier, Punjab Police arrested two people, including a 31-year-old woman, for their alleged involvement in espionage activities linked to an official posted at the Pakistan High Commission in New Delhi.

Those arrested were identified as Gazala and Yameen Mohamad, both residents of Malerkotla in Punjab.

Police teams had recovered two mobile phones from their possession. Their arrest came days after Amritsar (Rural) Police arrested two people, Falaksher Masih and Suraj Masih, for their alleged role in leaking sensitive information and photographs of army cantonment areas and air bases to Pakistan’s intelligence agency.

DGP Yadav had said that the preliminary investigation revealed that the arrested accused had been receiving payments through online transactions in exchange for sharing classified information. They were in frequent contact with the handler and were involved in channelling funds to other local operatives as per his instructions.

Accused Gazala was arrested for leaking sensitive information regarding Indian Army movements to a Pakistan-based handler.

Based on disclosures made by her during interrogation, a second conduit identified as Yameen Mohamad was also identified and taken into custody.

Accused Gazala admitted that she was doing it in lieu of money, and the accused official has sent her Rs 30,000 in two transactions – Rs 10,000 and Rs 20,000 – via UPI.

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Crime

16 Bangladeshis, including 7 minors, apprehended in East Delhi

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crime

New Delhi, June 2: In a drive against Bangladeshis illegally living in Delhi, the city police rounded up 16 persons, including seven children, from the Seemapuri area, an official said on Monday.

Deputy Commissioner of Police (Shahdara), Prashant Gautam, said the apprehended Bangladeshi nationals revealed that they had crossed into India approximately 18-19 years ago under the cover of darkness.

“They illegally entered India due to extreme poverty and a lack of livelihood opportunities in their native villages, located 40-50 km from the India-Bangladesh border in West Bengal,” he said.

The DCP said the arrests were made by a joint team of the Foreigner Cell and special staff of Shahdara after receiving a tip-off last month.

Those arrested include four men and five women, he said, adding that after entering India they initially stayed in the Cooch Behar area.

DCP Gautam said that from there, they travelled by train to New Delhi in search of better employment opportunities.

“Eventually, they moved to Haryana and began working in the rural areas, particularly at brick kilns, where they were involved in brickmaking,” he said.

These kilns are located away from main villages and residential areas, which allowed them to live in hiding without attracting attention, he said.

“No government agency had conducted any verification or background checks on them during this time. The brick kiln owners, driven by the motive of engaging low-cost labour, employed them without documentation,” he said.

Over time, they settled in the area, raised families, and continued to live and work without legal status or scrutiny, he said.

DCP Gautam said that on May 30, the Foreigner Cell of the Shahdara District received information regarding the presence of illegal Bangladeshi nationals attempting to enter the Seemapuri area.

“The tip-off indicated that a group of individuals was moving across the Uttar Pradesh-Delhi border near Shaheed Nagar,” he said.

The arrests were made by a joint team of Foreigner Cell and Special Staff comprising SI Shaji John, ASI Gajender, ASI Johar, ASI Nazir, Head Constable Arun, Head Constable Siddharth, Head Constable Yoginder, Head Constable Amit, Head Constable Vijay, Head Constable Anuj, Woman Head Constable Geeta, Woman Head Constable Manju, Woman Head Constable Renu and Constable Aman led by Inspector Munish Kumar I/C Special Staff & Foreigner Cell under the supervision of Gurudev Singh, ACP/Operations.

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National News

SC refuses to stay demolitions in Delhi’s Batla House, next hearing in July

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suprim court

New Delhi, June 2: The Supreme Court on Monday did not pass any interim orders on staying the proposed demolitions in the national capital’s Batla House.

A Bench of Justices Sanjay Karol and Satish Chandra Sharma told the residents, who had received 15-day eviction notices and apprehended imminent demolition, that they are free to avail remedies available under the law.

The Justice Karol-led Bench directed that the matter be listed before the regular Bench for hearing in July.

The litigants claimed that they were “genuine residents” and “property owners” of Khasra Nos. 271 and 279 in Batla House. They stated that their homes fall within the area now sought to be demolished on the purported ground of being outside the PM-UDAY Scheme coverage, despite having valid title documents, proof of continuous possession since before 2014, and eligibility under the Recognition of Property Rights Act, 2019.

Any blanket demolition drive initiated without affording affected residents an adequate and meaningful opportunity of being heard would amount to a gross infraction of the principles of natural justice and a direct violation of fundamental rights enshrined under the Constitution of India, said the plea filed through advocate Adeel Ahmed.

Underscoring the need for a fair, humane, and judicious approach before any coercive action is undertaken, the plea stated that applicants have been residing peacefully in the area in question for several decades, forming a stable and law-abiding community.

It added that the 15-day eviction notices were mechanically applied to residents and properties which are neither part of Khasra No. 271 nor identified in any report as being outside the scope of regularisation.

In spite of their legitimate claims, these residents have been denied an opportunity to be heard, and are now at imminent risk of displacement, said the application filed before the top court.

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