Eight persons were arrested for allegedly possessing demonetised currency notes worth Rs 1.5 crore, Goa police said on Saturday.
The demonetised currency was seized during a routine search of vehicles at the Pollem border check post in South Goa on Friday, deputy superintendent of police (Canacona) Kiran Paudwal.
The police intercepted a Kerala-registered car and found demonetised currency worth Rs 1.5 crore stored in a bag, he said.
Five occupants of the car, who are natives of Kasargod in Kerala, were immediately arrested, he said, adding that further investigation led to the arrest of three North Goa residents.
The currency was brought to Goa from Kerala for exchange with new notes, another official said.
A case has been registered against the accused under relevant sections of the Specified Bank Notes (Cessation and Liabilities) Act of 2017.