Demonetised currency worth Rs 30 lakh seized in Surat
An Indian vendor displays wallets made from replica prints of the demonetised 500 and 1000 INR currency notes prints for sale at a stall in Mumbai on November 22, 2016.
India's Prime Minister Narendra Modi announced on November 8 that that 500 and 1,000 rupee ($7.50, $15) bills -- 85 percent of the cash in circulation -- would cease to be legal tender in a crackdown on fraud and tax evasion. The move -- which saw the notes withdrawn from circulation just hours after the announcement -- was initially welcomed, but frustrations have mounted in the largely cash-reliant country where millions have been left without enough to cover their daily needs.
/ AFP PHOTO / INDRANIL MUKHERJEE
Surat: The police today seized demonetised currency notes with the face value of Rs 30 lakh from two persons.
Police had received a tip-off that a man identified as Tushar Patel was going to arrive in Khatodara area here, carrying demonetised currency with him.
He was acting as an agent and looking to exchange the currency for 30 per cent commission, the police learnt.
Following which, Patel and his friend Champak Shah were held and the cash was seized. Further probe was on.