Live
- Around 200 Schools in Karnataka Participated in School Cinema International Film Festival
- Karnataka BJP MLA Faces Rape Charges Amid Multiple Legal Troubles
- Gruesome Discovery In Chennai: Dismembered Body Found In Suitcase
- Bollywood Divas Shine at London Fashion Week 2024
- IND vs BAN 1st Test: Jadeja and Ashwin Rescue India with Unbeaten Partnership on Day 1
- Coco Gauff and coach Brad Gilbert end partnership
- People will give certificate to BJP govt: Majhi
- Laos works to boost job employment in rural areas
- How Much Hair Colour is Too Much? Signs You May Be Overdoing It
- IND vs BAN: Ravichandran Ashwin, Ravindra Jadeja save India the blushes on day one
Old notes exchange gang busted
The city is still attracting people to exchange old currency though all the possible venues have been closed. The NRIs are the only source, but they have to declare the cash at the immigration the moment they land at the airport.The City Task Force has been keeping a close eye on the traders who were bringing a lot of cold currency for exchange
Visakhapatnam: The city is still attracting people to exchange old currency though all the possible venues have been closed. The NRIs are the only source, but they have to declare the cash at the immigration the moment they land at the airport.
The City Task Force has been keeping a close eye on the traders who were bringing a lot of cold currency for exchange. On Saturday, they chanced upon a gang which brought Rs 1.48 crore old currency in Rs 500 and Rs 1000 denominations.
They raided a place near Lakshmi Roy Lodge, Dondaparthi, and as well as near PF Office, Marripalem, and arrested five persons who were in possession of the old currency notes. On enquiry, it was revealed that the main respondent in this case Ramesh Kumar arranged Rs 62 lakh worth old currency for exchange with new currency through the respondents P Peddi Raju and P Satya Gopal, both residents of Seethammadhara area of the city on 30 per cent commission basis and the respondents B Rupesh Kumar of Vijayawada and B Appala Naidu of Hyderabad brought old currency worth Rs 86 lakh for exchange with new currency on 25:75 ratio.
All of them were taken into custody while they were waiting for exchange of new currency on a commission basis. The arrested persons, along with seized cash, was handed over to station house officers of MVP Police and Airport Police Stations for further investigation. Since November 8 last year, the City Task Force Police seized Rs 1.54 crore old currency and Rs 85.47 lakh new currency.
