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The Maharashtra Police on Friday arrested three persons for allegedly possessing demonetised currency worth Rs one crore in Aurangabad’s Osmanpura area.

Speaking to media persons, Deputy Commissioner of Police (DCP), Rahul Khade, said, “On a tip-off, we caught the three accused at a police checkpoint. They were in possession of Rs 500 and 1, 000 demonetised notes worth Rs one crore.”

Khade said that the case has been registered against the trio under Specified Bank Notes Act. “Investigation in this regard is underway,” he added.