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TN transport corporation staff exchange notes, arrested

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Two employees of Tamil Nadu state transport corporation were arrested on Sunday for exchanging cash illegally. The employees of the Vellore division have been accused of exchanging Rs 50 lakh for a commission of 30%.

cash

Vellore police arrested the duo after they exchanged old notes of Rs 500 and Rs 1000 worth Rs 50 lakh with Rs 100 notes all from the corporation's funds. Cashier Raja Ram and Superintendent Joshua working with the Sholinhur depot of the transport corporation were arrested after the incident came to light.

[Also Read: Are Rs 10 coins fake? RBI dispels rumours]

More investigations are underway to trace the businessman who sought their help in exchanging demonetised Rs 500 and Rs 1000 notes.

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