Police today arrested three persons for allegedly trying to exchange banned Rs 1,000 and Rs 500 notes worth Rs 28.5 lakh in the city.
N Kishore, a commerce student, was trying to swap the demonetised currency with valid notes through the middlemen B Venkatesh and Rajinikanth, the city police said in a release.
Officials of the Commissioner's Task Force nabbed them and handed them over to Malakpet police for further investigation, it said.
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