The police here arrested a note exchange gang on Monday. The police produced 12 members, including Quthubshapuram sarpanch Srinu Naik of the gang before the SP. Gaddipalli MPTC Nageswararao, who was the member of the gang, was absconding.
The police recovered Rs 3.15 lakh worth Rs 2000 notes and Rs 86,000 worth Rs 1000 and Rs 500 notes and 12 bank account pass books and swiping machine from the gang. The gang was exchanging the old notes with 20 percent commission. (NSS)