Gang Busted in Attempted Exchange of Demonetised Currency

Police apprehended four individuals attempting to exchange scrapped Indian currency notes totaling over Rs 55.5 lakh. Acting on a tip-off, authorities caught the suspects engaging in illegal trade of demonetised Rs 500 and Rs 1000 notes. The accused and the notes have been handed over for further investigation.

Police have arrested four individuals attempting to exchange demonetised currency notes worth over Rs 55.5 lakh, authorities announced on Sunday.

The arrests followed a tip-off which led police to apprehend the suspects on Saturday night. They were allegedly converting demonetised Rs 500 and Rs 1000 notes into legal currency for a commission.

The accused and the seized notes have been transferred to the Abids police station for a detailed investigation, according to Deputy Commissioner of Police YVS Sudheendra.

(With inputs from agencies.)