The accused, identified as Kishan Naik and Lalitha, were arrested on a tip-off a day after their attempt to use fake currency notes at a local exhibition was foiled by organisers, said Ram Reddy, Circle Inspector at Ramchandrapur police station.
Police today raided their rented house and find them in possession of the fake currency notes in denominations of Rs 100 and Rs 500.
Reddy said that four other members of their gang managed to flee.
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