The Telangana Police on Friday busted a currency exchange racket in Nalgonda and seized Rs. 19.7 lakhs in old currency.
As per the police, three people were arrested including a realtor, a student and a marketing executive in the bust. The sum and the suspects were handed over to the Income Tax (IT) officials for further investigation.
Raids are being carried out across the nation by the IT department and police officials in the wake of the increasing cases of fake currency rackets post-demonetization.