The seizure was made in the early hours at Gosaveedu village of Gampalagudem Mandal from four persons after they were unable to produce appropriate documents and explain the source of cash, said Gampalagudem Sub Inspector P Siva Rama Krishna.
Police suspect that the cash, stashed in a bag, was supposed to be handed over some persons who wanted it in exchange for old Rs 500 and Rs 1000 notes.
The four persons, allegedly involved in exchange of money on a commission basis were taken into custody and a case was registered against them.
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