The mason, Prakash Prasa Mahato (42), was arrested by a team of Crime Branch sleuths from near a college here last evening, Inspector R V Kothmire said.
Fake notes with a face value of Rs 2,31,200 were seized from him, he said.
The notes were in Rs 2,000, Rs 500 and Rs 100 denominations, the official said.
Police are now finding out the source of the currency and also to whom it was to be delivered, he said.
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