Hyderabad, April 14 -- A 33-year-old butcher from Chandrayangutta was arrested for allegedly circulating counterfeit currency, police said on Tuesday, April 14. The man was caught after a bank alerted the authorities of the fake notes found in their Cash Recycler Machine (CRM).

According to the police, the accused, Ahmed Pasha, had obtained the fake Rs 500 notes worth Rs 94,000 from an unknown person on social media. He had collected counterfeit currency at Shadnagar and intended to circulate it as genuine currency.

On March 27, Pasha went to Kotak Mahindra Bank in Malakpet and deposited 10 notes into his account. The bank detected these notes on April 7 in their Cash Recycler Machine (CRM).

After confirming the notes as fake through a...