Hyderabad: 16-member gang arrested for exchanging old currency

Hyderabad: A sixteen member gang was arrested on Tuesday for trying to exchange old currency to new denominations.

According to Inspector Begumpet, the sixteen- member gang brought the old currency of Rs. 1.2 crore in 500 and 1,000 old denominations to exchange with new denominations.

On receiving an information, the police reached the spot and arrested the sixteen persons and seized Rs. 1.2 crore of old currency.