Train heist
All the notes they had stolen were soiled Rs 500 notes.

The withdrawal of Rs 500 and Rs 1000 notes has hit the poor, the rich and even thieves.

Remember the daring train robbery on board the Salem-Chennai Express in August? It turns out the Rs 5.75 crore notes that were stolen were all Rs 500 notes, leaving their loot worthless. Assuming the thieves haven’t blown up all the cash, they will have no option but to approach a bank or a financial institution to exchange their old notes.

The CB-CID, probing the train heist, has written to the RBI and the police in other states to keep a check on anyone trying to exchange or deposit soiled Rs 500 notes at banks.

Quoting sources in the CB-CID, S Vijaykumar of The Hindu reported that the agency had written to the RBI and other security agencies to “keep a watch” and “step up vigil” on those exchanging bulk cash following the demonetisation announcement. 

The daring train heist took place on the Salem-Chennai Express on August 9. The train was carrying soiled notes totalling Rs 342 crore in 226 boxes, and was being transported from the Indian Overseas Bank in Salem to RBI in Chennai. The thieves had cut open a 4-square foot hole on the roof of the train, and had tampered with four boxes, stealing Rs 5.75 crore. The crime came to light hours after the train reached Chennai Egmore station.