Hyderabad: Hyderabad task force conducted a raid in Narayanguda and seized demonetised currency worth nearly ₹2 crore. Officials said the recovery showed banned notes still remain in circulation.
Two men were arrested near Canara Bank, opposite Shanti Theatre. Two others were detained near the Water Works office. Police seized three bags containing old ₹500 and ₹1,000 notes.
Narayanguda demonetised currency case shows banned notes still in circulation
The suspects were taken to Narayanguda police station for questioning. Police are examining whether the cash was meant for illegal transactions.
Demonetisation was announced in 2016 to curb black money. The ₹2,000 note introduced later was also withdrawn in 2023. Still, police continue to find cases of old currency in Hyderabad.
