Krishna Kumari Rai, 41, of Kohalpur, Banke district and Arjun Bhandari, 29, of Srinath Municipality of Gorkha district, were arrested yesterday.
The police have confiscated from them Rs 68.2 lakh Indian bank notes in denominations of Rs 1,000 and Rs 500.
They were carrying the demonetised notes with a view to cheat local people, according to the Nepal police.
A police investigation has been launched.
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