Bengaluru: The Enforcement Directorate (ED) busted a foreign exchange racket here and seized foreign and Indian currencies equivalent to over Rs 65 lakh, said an official on Friday.
“We seized on Thursday illegal foreign currencies equivalent to Rs 45,47,892 and Indian currency worth Rs 20,25,170 from foreign exchange dealers operating without the Reserve Bank of India’s permission,” said the ED official in a statement here.
Acting on a tip-off, ED officials conducted raids at the agencies, two of which were located at R.T. Nagar while the remaining four were on Commercial Street. The owners of these agencies will be summoned and questioned about their business dealings and the modus operandi, the official added.
