KOCHI: The Customs department in Kerala has unearthed a unique racket in which withdrawn currency notes of Rs 500 and Rs 1000 denomination are being smuggled into India.
Customs officials at the Cochin International Airport arrested a Kerala man who was bringing in Rs 10 lakh, all in Rs 500 and Rs 1000 notes from Dubai on Wednesday morning.
Officials suspect the man works for a racket that's transporting NRIwithdrawn currencies held by non-resident Indians [NRIs] abroad.
A Customs team is interrogating the accused. The Income Tax Department has been informed about the seizure.