Rs 47. 98 lakh in banned notes seized, eight arrested in EG

RAJANAGARAM (EAST GODAVARI): Cops of Rajanagaram arrested eight persons and seized around Rs 47.98 lakh demonetised currency notes of Rs 500 and Rs 1,000 here on Tuesday. Those arrested were identified as K Harikrishna of Palakollu in West Godavari, M Santan Kumar of Kakinada, K Satish Kumar, A Ramesh, R Balaji, P Sattiraju, R Satyanarayana and G Venkata Narasimah Rao.
Additional SP of Rajahmundry urban R Gangadhara Rao said the accused were arrested at Kalavacharla junction while they were moving on four bikes. Cops were surprised to find Rs 21 lakh old currency from Harikrishna and Rs 11 lakh from Satish Kumar. “We are trying to find out why these people were carrying old notes even after the stipulated time of exchange was over,” the additional SP told media.