BENGALURU: Jalahalli police arrested three men for allegedly trying to exchange demonetised currency and seized notes worth Rs 30 lakh.Police said they were tipped off about a transaction involving demonetised notes on HMT Service Road and nabbed Kiran Kumar V (32), Praveen Kumar BR and Pawan Kumar (24). Police found demonetised notes of Rs 1,000 denomination amounting to Rs 30 lakh in their car.
“During interrogation, they revealed that the money belonged to Hanumanthegowda of Malagala and Rajashekhar of Vijayanagar. They were asked to exchange the old notes and approached people to buy them against 10% of the value and had assured them another 30% cut by converting the notes to new currency using their contacts in the RBI. We have registered a case and have informed the agencies concerned,” police said.