The government on Tuesday scrapped Rs 500 and Rs 1000 currency notes prompting people to rush to the banks to have their notes replaced. It also warned that anyone who comes to deposit cash above Rs 2.5 lakh could attract tax and a 200% penalty in case of income mismatch.
After the announcement, many were expected to resort to various means to get rid of the unaccounted money and the process seems to have already begun.
As per an ANI report, sackful of burnt notes of Rs 500 and Rs 1000 were found in Bareilly in Uttar Pradesh.
UP: Sacks full of burnt Rs 500/1000 notes found on roads in Bareilly after Govt's announces its decision to scrap Rs 500/1000 notes(9/11/16) pic.twitter.com/kYxs4vN3Ox— ANI UP (@ANINewsUP) November 10, 2016
Sources said that the burnt Rs. 500 and Rs. 1000 notes were reportedly brought in sacks and then dumped by workers of a company on Parsa Kheda road at CB Ganj in Bareilly.
Police officials said the currency notes appeared to have been cut, damaged and then burnt.
The police has since taken over the remains of the currency notes and the Reserve Bank of India (RBI) officials have been informed of the incident.
(Feature image source: PTI)