Old currency worth Rs 1crore seized in Ghaziabad; was being taken to Nepal for conversion

The cops have now seized the car and have held the driver.

Ghaziabad: Even over one and a half year after PM Modi’s demonetization announcement, which was aimed at putting an end to the country’s black money issue; the police on Tuesday seized old demonetized Rs 500 and Rs 100 currency worth Rs1 crore. As per sources, the money was being transported in a Swift Dzire car to Nepal, where it was likely to be converted in new currency. The cops have now seized the car and have held the driver. As per a sting by ABP News, it was revealed that several people in Nepal have a business of accepting old Indian currency in lieu of new currency by cutting some margin. Nepal banks have over Rs250 crore of Indian currency deposited at present.