The Mangaluru North police on Friday morning seized ₹1 crore in cash from a Bengaluru-based man as he did not possess valid documents.
Police Commissioner Sandeep Patil told reporters on Friday that the police had information about circulation of a huge amount of cash and rowdy elements planning robbery and extortion.
To prevent this, the police had intensified morning beat since three days.
On Friday, the police found Manjunath, 56, of Malleswaram moving suspiciously on Car Street after getting down from a bus, which had arrived from Bengaluru. When they checked his bag, they found bundles of cash in it.
The police suspect Manjunath of transporting the money to an anti-social element.
Manjunath has been arrested for offences under provisions of the Karnataka Police Act. He was produced before the jurisdictional magistrate on Friday night.