4 held for illegally exchanging old notes

Four persons have been arrested with illegally exchanged new high-value currency notes worth over Rs 4 lakh and a significant amount of Nepalese currency near the Indo-Nepal border in Bahraich district, police said today.
The arrests were made at Rupaidiha township yesterday after the police received information that the four had illegally exchanged old Indian and Nepalese currency notes with new ones having denomination of Rs 500 and Rs 2,000.
Rs 4.77 lakh of new currency notes in the denomination of Rs 2,000 and Rs 500 were seized from them. Nepalese currency valued at Rs 76,000 was also seized, SP Saligram Verma said.

Demonetised Indian currency notes having a face value of Rs 63,000 was also seized from them, he said.
The Income Tax department has been informed of the seizure and the four were being questioned, he added.