Shabir Ahmad Sheikh, a resident of Haft Chinar area of Srinagar, the summer capital of Jammu and Kashmir, was caught red-handed while stealing a wallet in a passenger bus at Batamaloo, a police spokesman said.
He said an amount of Rs 65,280 was recovered from Sheikh's possession, which he had stolen from commuters.
Sheikh was presented before a magistrate, who remanded him in custody, the spokesman said, adding that he was later shifted to Central Jail.