8 Arrested For Exchanging Demonetised Notes Worth Rs 4.41 Crore

Hyderabad: 8 people were arrested and demonetised currency worth Rs 4.41 crore was seized from them in the city on Sunday.

Addressing the media, Task Force DCP Limba Reddy said the arrested persons were exchanging old currency for 30 per cent commission. All the arrested were real estate agents with the ring leader identifed as Kalyan Prasad, he said. The seized currency notes were in the denomination of Rs 500 and Rs 1,000. Another person named Raju is absconding and efforts are on to trace him, he added.

The DCP, however, clarified that those arrested did not have any links with personnel of any bank.