Directorate of Revenue Intelligence (DRI) personnel on Friday seized counterfeit currency notes amounting to Rs 3 lakh from a passenger travelling by the Kamakhya-Yesvantpur Express at the Bhubaneswar railway station.
Sources said as many as 150 fake notes of Rs 2,000 denomination were seized from the passenger.
He sources said that earlier the DRI sleuths had got information that the fake currency was being smuggled to Bangalore from Bangladesh, following which they conducted a raid and nabbed the accused identified as Simar.
As Simar is a native of a village close to the Bangladesh border, it is suspected that the fake notes were procured from Bangladesh.
It is suspected that a major fake currency note racket is behind such operation as the accused is believed to have been engaged in transportation of the fake notes at regular intervals.
The arrest could be just the tip of the iceberg while a detailed probe has begun to bust the entire racket as fake notes are regularly being seized from several parts of the State including Bhadrak, Baleswar and Mayurbhanj.