The police have initiated a further investigation into the matter. (Representational)
An Indian national has been arrested from Kathmandu for his involvement in an illegal money exchange business here in Nepal, police said.
Vijay Kumar, 49, who hails from Himachal Pradesh is currently residing in Kuleshwor, Kathmandu. He was arrested along with the operator of Ma Chamunda Fruit Centre, on Tuesday, for his involvement in illegal money exchange (hundi).
The police arrested Kumar on the basis of a tip-off after learning about his involvement in an illegal money exchange business without having permission from Nepal Rastra Bank, the central bank of Nepal, said Nepal Police said in a statement.
A special team of police deployed from the Kathmandu Valley crime investigation bureau nabbed him along with three cheques amounting to Rs 5.72 million, said the police.
He is found to be involved in an illegal money exchange business under the cover of fruit trading for a long time, revealed the preliminary investigation launched by the police following his arrest.
Earlier, in 2018 also he was arrested along with bank notes amounting to 3.1 million Nepalese rupees and 200,000 Indian rupees, according to the police.
The police have initiated a further investigation into the matter after taking him into custody.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)