In addition to hiding cash at secret vaults in bathrooms, cots and other places to evade detection, some Indians also took the aerial route to move their money ever since the demonetisation drive was announced by Prime Minister Narendra Modi last month. The seizures at airports as of December 14, 2016 comprise cash and gold, according to the Central Industrial Security Force (CISF).
"We have seized more than Rs 70 crore of cash. More than 170 kilograms of gold has been attended to since the demonetisation, at various airports across the country. They were a mix of both, but mostly new notes," O P Singh, Director General of CISF said at a press conference in Mumbai, according to the PTI.
In the past few weeks, authorities have intensified searches and raids on those suspected of hoarding cash, including new currency notes, as part of the crackdown on black money.
The searches have exposed nexus between criminals, middlemen, commercial bank executives and even an official of the Reserve Bank of India (RBI).
The alleged involvement of bank executives even led to rumours that the banking licence of private sector lender Axis Bank was under threat, which was quickly denied by both the RBI and the bank.
Seizures of gold and cash, including the new denomination of Rs 2,000, have been reported from many places in India, including cities such as Mumbai, Delhi, Chennai, Hyderabad, Bengaluru, Surat, Bhopal and Pune.
