Police have seized nearly Rs 1 crore in demonetised currency notes from three persons, who were later arrested.
Acting on a tip-off, police intercepted a car at Parsik circle in Mumbra township of Thane district at around midnight on Tuesday.
They found Rs 1 crore in old notes in Rs 500 and Rs 1,000 denominations in the possession of three persons, including a woman employee of a private bank, an official release issued by Thane police said.
The three persons was planning to get the notes exchanged for new bills. They were later arrested and a case was registered against them under relevant sections, Thane police PRO Sukhada Narkar said.
Police are trying to find out from where did the accused get the junked notes, Narkar said.