Police arrest 3 people,seize Rs 1 cr old notes

Hyderabad Jan 6: Indian PM has announced demonetization on Nov 8, 2016, and the nearly 13 months have passed by and many people have deposited their money in the banks but still some people have not deposited their money.

Recently the Police have nabbed 3 persons and seized Rs 1 Crore of demonetized notes.sources said that police have acted on a tip-off. police said that "they have arrested the gang in Kharkhana as they were waiting to exchange the demonetised notes."

"We have also seized a Honda Activa scooter and three cell phones from the accused, identified as K Rajesh, a stock market investor from ECIL, P Anantha Reddy, a businessman from Nallakunta and A Nagaraju, a driver from Siddipet," they added.

Police finally said that "the group had tried to exchange the old notes by selling them a discounted price to exchange gangs but we have arrested and seized the notes". Further details are awaited.