KATHMANDU: A man has been arrested for allegedly smuggling demonetised Indian banknotes with face value INR 2.928 million from Solteemode of KMC-13 on Saturday.

Acting on a tip-off, a special police team deployed from the Metropolitan Crime Division apprehended a 48-year-old Krishna Shrestha, a permanent resident of Sirseni Rural Municipality-1 in Gulmi district, currently residing in Ravibhawan, KMC-13.

In a statement today, MCD said they seized 62 notes of INR 500 denomination and 2,938 notes of INR 1,000 denomination.

Meanwhile, the suspect along with the seized fake Indian bank notes has been sent to Hariharbhawan-based Department of Revenue Investigation for further investigation and action today.

The Indian government had demonetised INR 500 and 1,000 on November 8 last year as part of the 'crackdown on rampant corruption and counterfeit currency'.