People sending demonetised notes abroad by courier: Customs

April 9, 2017

New Delhi, Apr 9: The customs department has unearthed a new modus operandi of sending demonetised Rs 500 and Rs 1,000 notes abroad by courier in a bid to get them converted here later.

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After these high denomination notes were taken out of circulation by the government in November last, Non-Resident Indians (NRIs) were given a longer window till June 30 to get them exchanged, whereas citizens who were in the country at that time were allowed to deposit the old notes till December 30, 2016.

Customs officials have registered a few cases, where demonetised banknotes were sent abroad by courier, and seized over Rs 1 lakh in such notes, a senior official said today.

People were found trying to send the old notes abroad by falsely declaring them as articles such as books, he said.

"The aim could be to take help of their relatives or friends abroad to get the old notes exchanged with the new ones," the official said.

In two cases, couriers were booked from Punjab for Australia and the content inside them were declared as book.

The customs official, who are keeping an eye on outbound parcels at foreign post office here, found them having demonetised notes.

Similar consignments were booked for Korea and the United Arab Emirates containing the defunct notes. "In all, over Rs 1 lakh in old currency notes were seized from these couriers," he said.

Such cases have also been registered at foreign post offices located across the country, the official said.

After scrapping Rs 500 and Rs 1,000 notes on November 8, the government had permitted people to deposit them in banks up to December 30, 2016.

The RBI has allowed Indian citizens, who were abroad during November-December 2016, to exchange the scrapped notes up to March 31 and NRIs up to June 30.

This facility is available at RBI offices in Mumbai, Delhi, Kolkata, Chennai and Nagpur only.

NRIs coming to India are required to come through Red Channel disclosing to the Customs authorities at the airport the amount of the demonetised notes and secure a certificate to be tendered at the RBI at the time of exchange.

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News Network
April 13,2024

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New Delhi: Seventeen Indians are on board an Israeli-linked container ship that has been seized by the Iranian military amid heightened tensions between Iran and Israel.

Official sources said India is in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure the welfare and early release of the Indian nationals.

The Iranian action came amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 12 days ago.

"We are aware that a cargo ship 'MSC Aries' has been taken control by Iran. We have learnt that there are 17 Indian nationals onboard," said a source.

"We are in touch with the Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure security, welfare and early release of Indian nationals," it said.

Reports said Iran's Islamic Revolutionary Guards seized MSC Aries on Saturday morning when it was sailing through the Strait of Hormuz.

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News Network
April 9,2024

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The Delhi High Court rejected Chief Minister Arvind Kejriwal's plea challenging his arrest by the Enforcement Directorate (ED) and remand order passed by the trial court in connection with the excise policy case. The court delivered the verdict in the excise policy case on Tuesday.

In its order, the high court said the petition challenged the arrest and said it was in violation of Section 19 of the Prevention of Money Laundering Act, 2002 (PMLA). "The court clarifies that the plea is not for bail but for declaring the arrest illegal," Bar and Bench reported while citing the court order.

The high court said the material collected by the ED “reveals Arvind Kejriwal conspired and was actively involved in use and concealment of proceeds of crime." 

“The ED case also reveals that he was involved in his personal capacity as well as convenor of AAP," the order said.

Kejriwal had earlier questioned the timing of the arrest that came just ahead of the Lok Sabha Elections 2024.  Reacting to this, the court said, “Petitioner has been arrested in money laundering case and court has to examine his arrest and remand as per law irrespective of timing of elections."

Reacting to Kejriwal's argument casting doubt on the statements of “approvers" in the excise policy case, the court said the statements of “Raghav Magunta and Sarath Reddy are approver statements which were recorded under the PMLA as well as Section 164 CrPC".

“To cast doubt on the manner of recording statement of approver would amount to casting aspersions on the court and judge," the order added. “The law of approver is over 100 years old and not one year old. It cannot be suggested that it was enacted to implicate the present petitioner (Kejriwal)," it added.

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News Network
April 15,2024

New Delhi: India is likely to experience above-normal cumulative rainfall in the 2024 monsoon season with La Nina conditions likely to set in by August-September, the IMD has said on Monday.

However, normal cumulative rainfall does not guarantee uniform temporal and spatial distribution of rain across the country, with climate change further increasing the variability of the rain-bearing system.

Climate scientists say the number of rainy days is declining while heavy rain events (more rain over a short period) are increasing, leading to frequent droughts and floods.

Based on data between 1951-2023, India experienced above-normal rainfall in the monsoon season on nine occasions when La Nina followed an El Nino event, India Meteorological Department chief Mrutyunjay Mohapatra told a press conference here.

Positive Indian Ocean Dipole conditions are predicted during the monsoon season. Also, the snow cover in the Northern Hemisphere is low. These conditions are favourable for the Indian southwest monsoon, he said.

Moderate El Nino conditions are prevailing at present. It is predicted to turn neutral by the time monsoon season commences. Thereafter, models suggest, La Lina conditions may set in by August-September, Mohapatra said.

India received "below-average" cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in 2023, an El Nino year. Before 2023, India recorded "normal" and "above-normal" rainfall in the monsoon season for four years in a row.

El Nino conditions -- periodic warming of surface waters in the central Pacific Ocean -- are associated with weaker monsoon winds and drier conditions in India.

Three large-scale climatic phenomena are considered for forecasting monsoon season rainfall.

The first is El Nino, the second is the Indian Ocean Dipole (IOD), which occurs due to differential warming of the western and eastern sides of the equatorial Indian Ocean, and the third is the snow cover over the northern Himalayas and the Eurasian landmass, which also has an impact on the Indian monsoon through the differential heating of the landmass.

The southwest monsoon delivers about 70 percent of India's annual rainfall, which is critical for the agriculture sector. Agriculture accounts for about 14 percent of the country's GDP.

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