Two persons, including a woman, were today arrested on charges of possessing and trying to exchange demonetised currency notes with a face value of Rs 1.13 crore, police said.

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The woman, Manjula R Joshi, and her friend K Naga Venkata Gowri Shankar Gupta, were arrested last evening near a hotel in Panjagutta when they were allegedly trying to exchange the scrapped notes with a face value of Rs 1.13 crore, a release from the Hyderabad Police said.

However, the release did not elaborate with whom they were trying to exchange the demonetised bills.

Joshi is a native of Jewargi in Kalaburgi district in Karnataka, while Gupta is a resident of Machilipatnam town in Krishna district of Andhra Pradesh. Both of them are in real estate business, the release said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)