The Special Cell had received information that high- quality FICNs were being pumped into India through porous border along Malda in West Bengal, the police said.
It was also found that the FICNs were being supplied by racketeers in various parts of the country, including Delhi, they said.
On January 12, Narender (45) was arrested from near Red Fort following a tip-off and FICNs with a face value of Rs three lakh were seized from him, Deputy Commissioner of Police (Special Cell) P S Kushwah said.
Due to demonetisation, he did not get fake new currency notes in the first half of 2017. However, in the second half, he again started the business of procuring FICNs. He started getting the FICNs from Farraka in West Bengal.
The officer said that all the notes are of fine quality and it is difficult to distinguish fake notes from the original ones.
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