Bengaluru: The Enforcement Directorate arrested 7 middlemen involved in conversion of old currency into new form and seized Rs 93 lakh in new currency notes in Bengaluru on Tuesday.

One of the ED officials presented himself as customer to these middlemen. The middlemen had some link with bank officials. The Enforcement Directorate is conducting further investigation to ascertain the links.

Since November 8, when Prime Minister Narendra Modi announced his government’s move to demonetise high-denomination currency of Rs 500 and Rs 1000, many cases of seizure of new cash has come to light. Recently, Rs 13.50 crore were seized by the Income Tax Department from a law firm in Delhi’s Greater Kailash out of which Rs 2.61 crore were in new currency.