After Central government's announcement banning all Rs 500 and Rs 1000 notes to curb black money, sacks full of burnt notes were found in Bareilly in Uttar Pradesh.
According to a news agency, the sacks full of notes were reportedly brought and dumped by workers of a company on Parsa Kheda road at CB Ganj in Bareilly.
According to a media report, police officials have concluded that the notes were cut first and then burnt. Following the incident, RBI officials were informed about the incident.
"We are examining the burnt notes to check for their authenticity," NDTV quoted a senior Superintendent of Bareilly, Joginder Singh, as saying.
Prime Minister Narendra Modi had announced last evening the move to scrap the current Rs. 500 and Rs. 1,000 notes