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AIZAWL:Demonetization exercise seems to have fail in the state of Nagaland where gun running seems to be the need of the hour for the high and mighty.
New notes worth Rs 27 lakh were seized from the husband of a manager of Mizoram Rural Bank (MRB) by Criminal Investigation Department CID (SB) officials who arrested four persons in this connection.
CID (SB) officials laid a trap for the MRB manager Lalhmufiahi and it was found that she along with her husband was trying to illegally exchange scrapped Rs 1,000 and Rs 500 notes worth Rs 45 lakh, a CID official said.
Lalhmufiahi and the person used by the Police admitted that the former would be paid Rs 45 lakh in old Rs 1,000 and Rs 500 denominations and she would pay Rs 27 lakh in new notes. The bank manager, her husband Remruatkima and two others were arrested.
Lalhmufiahi stole Rs 26.04 lakh from the bank and borrowed the rest (Rs 96,000) from her friend, he said.
Featured image(courtesy): Livemint(file)