The National Investigation Agency has zeroed in on dozens of politicians, bureaucrats and police officers who had allegedly illicitly exchanged demonetised money into the new currency after November 8 last year.
The NIA will also be investigating the role of a prominent bank of the state that had helped politicians, bureaucrats and police officers in the Valley to exchange the money on the instructions of some politically influential persons.“Each and every entry is under scrutiny and also how bundles of old currency were exchanged with the new under clear political patronage.
The amount runs into several crores of rupees,” a source said.
The modus operandi is being investigated as also the involvement of some high-ranking bank officials who became conduits in this illicit exchange of notes.
That is one of the reasons that not many queues were seen outside a particular bank in Kashmir.
The NIA also suspects that the nexus between politicians, bureaucrats and the police was also funding separatists.
“This investigation can start any moment,” said the source, adding that top political functionaries have been told not to interfere in the investigation.