Demonetised notes worth Rs 18.60 lakh seized in Tuticorin

Demonetisation of Rs 500 and 1000 notes was announced by PM Modi in November last year. (File)

Demonetised currency notes with a face value of Rs 18.60 lakh were recovered from two persons at the old bus terminus area here on Monday, police said. We have seized old Rs 1,000 and 500 notes, they said adding two persons were arrested in this connection. A probe is on to ascertain the source of the money, police said.

The Centre had rendered the old Rs 500 and Rs 1000 notes illegal on November 8, 2016, when Prime Minister Narendra Modi
announced demonetization to crackdown on black money and put a lid on counterfeit notes that are usually used to fund terror.