GET Stock QuotesNews18 APP
News18 English
»
2-min read

Sharp Drop in Gold Smuggling Cases at IGI Airport After Demonetisation

Customs seized about 240 kg of the yellow metal in 2016-17 fiscal, 190 kg less than the seizure in 2015-16.

PTI

Updated:June 4, 2017, 10:43 AM IST
facebookTwittergoogleskypewhatsapp
Sharp Drop in Gold Smuggling Cases at IGI Airport After Demonetisation
Officials said 240 cases of gold smuggling were reported at IGI airport in 2016-17.

New Delhi: Gold smuggling at the Delhi airport has taken a major hit due to demonetisation as the customs seized about 240 kg of the yellow metal in 2016-17 fiscal, 190 kg less than the seizure in 2015-16.

The demand of gold has traditionally been high in the country as people prefer to invest in it for better returns and due to traditional values.

Nearly 355 cases of gold smuggling were reported at the Indira Gandhi International Airport (IGIA) during financial year 2015-2016. In these cases, the customs authorities seized 450 kgs of gold, valued at a whopping Rs 132 crore, a senior customs official said. About 190 people were arrested in these cases, he said.

But the number of cases of gold smuggling took a hit, especially after demonetisation was announced on November 8 last year by Prime Minister Narendra Modi, the official said.

As a result, about 240 cases of gold smuggling were reported in 2016-17 fiscal. About 260 kg of gold valued at Rs 76.31 crore (as per the current market rate), was seized by the customs at the Delhi airport, he said. About 100 people were arrested in these cases, the official said.

“There was a major decline in gold smuggling cases during the period of demonetisation and even after that. The primary reason behind it was that the note ban has completely stopped hawala transaction, a major chunk of which is used to illegally bring the yellow metal in the country,” the official said.

Apart from this, there has been heightened surveillance at the airport to scan incoming as well outgoing passengers to check smuggling. “We have caught a lot of people based on intelligence input,” the official said.

In the last two months — April and May — of this year, customs officials have registered more than 15 cases and seized 32 kg of gold, valued at Rs 10.27 crore, whichwas being smuggled into India from abroad. As many as 30 people were arrested in these cases, the official added.

He said that after the crackdown, smugglers are adopting novel methods to smuggle gold into the country. Customs officials had recently arrested a wheelchair-bound senior citizen for allegedly trying to
smuggle gold valued at around Rs 93 lakh.

In April, an Air India security officer and a Japanese national were among three persons arrested by the customs for allegedly smuggling into the country gold worth about Rs 2.3 crore.

Also Watch

Read full article