Badvel police arrested a farmer, Chinnappa Reddy, on a complaint filed by HDFC bank officials that he produced 162 fake notes of Rs. 1,000 denomination when he came to repay loan of Rs. 2 lakh on Thursday.
Chinnappa Reddy, belonging to Madakalavaripalle village, had mortgaged gold ornaments in HDFC bank branch at Badvel to take a loan of Rs. 2 lakh some time ago. As his daughter’s wedding was scheduled on April 25, he went to the bank to take back the gold ornaments and presented Rs. 2 lakh in the counter.
The bank officials detected 162 fake notes of Rs. 1,000 denomination in the cash given by Chinnappa Reddy and complained to the police. Badvel Circle Inspector K. Raja and staff arrested the farmer.
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During interrogation, he told the police that he took loan from a money transfer agent of Reddipalle village in Atlur mandal in order to clear the gold loan. Police registered a case and are investigating.