Police struggles to exchange old demonetised notes in Mayurbhanj

Baripada: Even as the deadline for depositing old demonetised currencies of Rs 500 and Rs 1000 is over, Jharpokharia police of Mayurbhanj is yet to exchange old cash worth Rs 2.88 lakh and continues to struggle between legal and banking norms.

As per sources, the police had approached regional Reserve Bank of India (RBI) office in Bhubaneswar on March 16 and asked them to exchange the money but the bank authorities turned down their pleas saying that the deadline for exchange of currencies was over.

“Old notes which were seized from various cases are lying with us, which we have been trying to deposit, but so far unable do so,”  Abhimanyu Nayak SDPO, Baripada told newsmen.

“Seeking court’s permission for exchanging the cash took time and subsequently after that we were directed to deposit the amount at the RBI within the deadline of March 31. But when we sought help from the apex bank we were turned down,” Nayak said.

A combined amount of Rs 2.88 lakh seized through 9 different cases, comprising 185 numbers of Rs 1000 denomination and 207 number of Rs 500 denomination notes, are lying with the police.

Meanwhile, the police have said they would once again seek court’s help to sort out the matter.