Five persons held with Rs 1.48 cr in spiked Rs 1000 notes

Five persons from Kerala's Kasargod district at the Goa-Karnataka road border on Friday with notes of the demonetised Rs 1000 denomination, of the face value of Rs 1.48 crore, a police official said.

Superintendent of Police, South Goa, Arvind Gawas said that the five persons had arrived in Goa, because of a tip-off that the banned notes could be exchanged in the coastal state.

"When their Goa contact refused to exchange the money, they were taking the currency back to Kerala, when our border checkpost discovered the consignment. We have seized cash in banned Rs 1000 notes and arrested the give," Gawas told reporters.IANS