Four held for trying to exchange old bills in Rs 48.66 lakh

Four persons were arrested here today for allegedly trying to exchange demonetised bills in Rs 48.66 lakh with new notes for a commission, police said.

Krishna Chaitanya Kumar Reddy, Suresh Babu, M Jagadish and M Venkateshwarlu were nabbed when they were allegedly trying to exchange the scrapped notes in denominations of Rs 500 and Rs 1000 with new bills with some unknown persons near Amberpet post office, the Hyderabad Police stated in a release.

The police since March 13 have arrested 27 people from different parts of the city in separate cases of bids to exchange scrapped notes with new bills. Police have seized demonetised notes with the face value of Rs 4.25 crore in these incidents.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)