The note ban in Nov. 2016 rendered most of the 5.78 crores they looted useless.
The robbers who looted 5.78 crore in cash from the Salem-Chennai Egmore Express in 2016, disclosed that they had to burn notes worth about 2 crore after the demonetisation drive as they could neither spend the money nor deposit it in the banks.
Of the 342 crore that was being transported on the train by Indian Overseas Bank, Salem, to Reserve Bank of India in Chennai on August 8, 2016, the gang looted 5.78 crore. On November 8, 2016, the Centre announced demonetisation of 500 and 1,000 notes and introduced new 500 and 2,000 notes.
After a two-year search, the CBCID team nabbed seven members of a gang led by Mohar Singh of Guna district, Madhya Pradesh.
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