Yet another instance of an attempt to exchange demonetised currency came to light when the Karkhana police seized banned notes of ₹500 and ₹1,000 with a face value of ₹92.30 lakh from two persons.
The currency notes belong to an aluminium scrap dealer, Ram Narayan Tiwari of Feelkhana, in Begum Bazaar, said Mahankali Assistant Commissioner of Police S. Gangadhar.
The second accused, Chandana Srinivas, works as an outsourced employee in the Social Welfare Department. He approached the scrap dealer on learning that the latter had huge sums of demonetised currency notes and offered help exchange it for new currency notes.
As per their plan, the dealer brought the banned currency notes stuffed in a rexine bag on a two-wheeler to ICICI Bank at Karkhana. He and Srinivas were waiting for someone to exchange the notes when the police caught them on a tip-off.
