Rs 100 crore in banned currency notes found at a house in Kanpur

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Kanpur : Banned currency notes worth Rs 100 crores have been found at a house in Kanpur, Uttar Pradesh.

It took cops complete one night to count the money stacked up in form of a bed of currency.

The cops along with NIA team and RBI officers then raided a hotel and took some people in custody for alleged connection with the recovered money.

Complete cash recovered was in the denominations of Rs 500 and Rs 1000 which were banned by Prime Minister Narendra Modi in November 2016.

The money allegedly belongs to a businessman Ashok Khatri and his knowns.

"I am told he is a businessman as a cover but is involved in these kinds of activities. He is the main conduit in the exchange of money. 16 people have been arrested. We were getting information that efforts are on to stack currency and exchange it in some manner," said Anand Kumar, the acting police chief of Uttar Pradesh.

A few more people have also been arrested who had promised an exchange of the currency from the bank.