Hyderabad Police have seized demonetised currency notes worth Rs 1 crore and arrested three in this connection.
"The accused K. Rajesh, P. Anantha Reddy and Ashangari Nagaraju had come near the SBI bank, Main road Karkhana with the intention to exchange old demonetised Indian currency with new Indian denominations," B. Sumati, DCP, North zone told ANI on Thursday.
Acting on specific information, the Karkhana crime team took the accused into custody on Wednesday, the DCP informed.
Besides the currency notes, one two-wheeler and three mobile phones were also seized from them.
Disclaimer: No Business Standard Journalist was involved in creation of this content