Acting on a tip off, police yesterday caught the man from a shop at Friends colony market, where he was roaming with an intention to use the fake notes, they said.
Police recovered altogether 17 notes worth face value of Rs 1,000 each from him.
Accused Pappu Patel, a native of Bihar, was a residing in a rented house in Fathepur Chandila here.
A case has been registered against the man and further probe was underway, police said.
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