WATCH- Explosive revelation by Congress, says Rs 3 lakh crore were printed abroad and brought in planes to Hindon air base after demonetisation


The Congress on Tuesday made a stunning revelation by claiming that Rs 3 lakh crore were printed abroad immediately after the demonetisation announcement and brought in planes to Delhi’s Hindon air base using a military aircraft before being taken to the Reserve Bank – at a charge of 35 to 40 per cent exchange commision.


Addressing an emergency press conference, Congress leader Kapil Sibal said that not only was the demonetisation announcement a ‘surgical strike on the poor’ but it also provided an opportunity for the rich to convert their unaccounted cash by manipulating the banking system. “It is the biggest scam in the history of India,” Sibal said asking, “Who benefited from this scam, needs to be investigated.”

Sibal also played a video, claiming that it was an expose on the currency exchange conducted by the government after the note ban. “A glimpse of the nature of this scam is showcased in the selected clips that are to follow. These are taken from hours of footage that is available on”

In the video, one Rahul Ratharekar, who claimed to be a former RAW employee, could be seen in conversation with an undercover journalist. Rahul said that three series of Rs 1 lakh crore each were printed abroad, adding that the duplicate currency notes were allegedly printed abroad and brought to India in Air Force Transport planes at Hindon Air Force base. The ‘former RAW official’ also spoke about the ‘logistics of currency exchange operation and how it is being controlled from the very top’; he twice named BJP President Amit Shah. Ratharekar also said that the exchange transaction percentages increased from 15% initially to 35-40%.

Rahul, according to the video broadcast by the Congress, also said that ‘a fixed % has to be remitted regularly up the chain,’ allegedly headed by Amit Shah.

He then went on to claim that a separate department in the Prime Minister’s Office was allegedly ‘overseeing this work.’ This department, he added, was headed by one Nipun Sharan (code name). Rahul told the undercover reporter how 26 individuals were recruited from various departments specifically to oversee and co-ordinate with the RBI for currency exchange work. These government servants, according to him, were posted in various RBI offices to oversee, control and report currency transactions to their head in the PMO and  Amit Shah.

Sibal told reporters, “It shows the alleged involvement of a political party, along with bankers, government and its officials including those who enforce the law. If this is true and the treasury can be looted in this fashion, then we all need to be alert to the dangers that lie ahead. The forces, if involved in such an enterprise, are not only anti-national but have committed treason.

“A recent expose showing a wall full of crisp Rs.2000 currency notes after December 31, 2016 has not persuaded our enforcement agencies to investigate or even lodge an FIR. These are the agencies who are misusing their powers to target the opposition in the midst of the election.”

Reacting to the Congress’ sting video, the ministry of defence issued a statement denying the use of any military aircraft for transporting currency printed abroad. News agency quoted a defence ministry statement, “It is categorically refuted that any Indian Air Force aircraft was tasked to fly abroad for carrying currency prior to, during or after demonetization as alleged in a video released today.”

Link of full press conference below.


  1. Weight of 1 Cr Rupees of Rs.2000 denomination is 5 Kgs, so weight of 3 lakh crores is 15,00,000 Kgs (or 1500 Tons). Carrying Capacity of IL-76 is 17500 Kgs. So it will take approximate 86 trips for transportation of 3 Lakh Crores of Rupees considering all of them are in Rs. 2000 denomination. Is it possible to make 86 trips secretly?

    • it is possible that 3 lakh crore were printed in duplicate because why else will a foreign printing press print small numbers …assuming the above is true then everyone knows logistics is a problem …hence money that is required urgently could have been brought into the country via air and the rest via sea. Remember Adani owns a port and which destination is better for delivery than Gujarat? Also, all those involved in this may be thinking that it is a legitimate operation requiring secrecy because it involves the highest of politicians using government resources.

    • The quantum of notes would have been of the older Rs 1000 denomination exchanged for the newer Rs 2000 ones.Then the actual weight of the notes would be double than mentioned by JGN.
      This would have required 172 IL-76 flights for transportation.Mind boggling indeed or fabrication!Quite unrealistic and unimaginable.
      Anyway both BJP and Congress should file cases and investigated under SC orders by CBI,RI,ED etc forming SIT and MAP(multiple agency probe) for both parties to clear themselves

  2. Is there only one IL 76. Is there only one airbase in India. Is there a ban that other cargo planes can not ferry this cargo. Is there a ban that private cargo planes can not do this. There are umpteen options available.

  3. It is worth a probe. Sibal is a big supreme court lawyer. Why can’t he file a petition in supreme court? Why just a press conference?


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