The case was registered in Bengaluru after three persons were arrested with FICN with a face value of Rs 4,34,000, the NIA official said.
Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19.
This high level of currency available with the public is in sharp contrast to the reported cash crunch in various parts of the country a few months ago.
After being verified, sorted, shredded, recycled, they were sent to Kerala's North Malabar region– where it was further pressed into pulp to produce something charged with 28 percent GST–hardboard.
A luxury car without a registration plate and old currency notes were today seized from the headquarters here of the Sacha Sauda Dera, a sect whose head is in jail after being convicted for rape.
The Reserve Bank of India will soon issue new Rs 50 notes with a base colour of fluorescent blue.
When it's serious, a pinch of humour helps it go down better. Here's how quick-witted netizens reacted to the news of the discontinuation of Rs 500 and Rs 1,000 notes