PM Modi’s announcement to demonetise 500 and 1000 rupee notes shook the entire nation. While some of us are trying our level best to utilise whatever notes we had. However, what about those hoarding crores of rupees in these denominations? Here is one incident to what happened to the black money.

Shredded currency notes with a face value of several lakh rupees were recovered from a busy area of Bareilly in northwest Uttar Pradesh, police said on Thursday.

Found mostly burnt in two sacks near a dump-yard in CB Ganj on Wednesday afternoon, the finely-cut notes “resemble” those in the denominations of the just-invalidated Rs 500 and Rs 1,000, according to a senior official.

Local people said the currency was filled in two sacks and set on fire, while authorities said they were trying to ascertain the exact amount of the old high-denomination notes recovered around 2 pm by the road that leads to a national highway linking Bareilly to Haridwar in neighbouring Uttarakhand.

The police have since seized the burnt remnants of the bank notes and informed the Reserve Bank of India officials about the incident.