Kotputali police seized Rs 88 lakh in banned Rs 500 and Rs 1,000 notes from 22-year-old Rajendra Bharadwaj, assigned to deliver the money to a trader in Chaura Rasta area in Jaipur.
A Delhi-based metal firm owner had allegedly hired him for the job. The accused was arrested while travelling in a bus near Paniyala village with a bag stashed full of cash, Jaipur (rural) DSP Mahmood Khan told PTI.
Acting on a tip-off, police teams carried out searches of the buses plying between New Delhi and Jaipur and caught the youth with the money, he said.
Investigation in underway to ascertain the source and delivery locations of the money, Khan said.
In another incident, two persons were from Asind town in possession with Rs 3.40 lakh in banned Rs 500 and Rs 1,000 notes after the duo failed to give any satisfactory answer during questioning.
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