Peanut Vendor at the Epicenter of Currency Exchange Racket

Nagpur Police uncovered a currency exchange racket centered around a peanut seller, Nandalal Maurya, who was allegedly swapping discontinued Rs 2,000 notes for lower denominations. His operation led to the arrest of three others, including alleged mastermind Anil Jain, as police discovered significant sums of money during the investigation.

In an intriguing twist, Nagpur Police stumbled upon a currency exchange racket that saw a humble peanut vendor at its core. Investigators, tracking the illegal conversion of Rs 2,000 banknotes into Rs 500 notes, were led to Nandalal Maurya, a pushcart snack seller.

Maurya, along with three associates, has been accused of hiring impoverished individuals to exchange the withdrawn currency, exploiting a legal loophole at the Reserve Bank of India. The operation allegedly masterminded by Anil Jain, amassed considerable sums before the police intervened.

Authorities acted on a tip-off, recovering large amounts of cash and apprehending the group. This case highlights vulnerabilities in financial systems amid policy changes and the impact on marginalized communities.

(With inputs from agencies.)