Man held with fake currency of Rs 2.83 lakh face value

City Police have arrested a 40-year-old man for allegedly carrying fake currency notes with the face value of Rs 2.83 lakh, an officer said on Tuesday.

Acting on a tip-off, crime branch officials stopped a man near RTO Office on Monday evening, he said.

"Police found 566 counterfeit notes in denomination of scrapped Rs 500 stuffed in the bag being carried by Kaluram Indvale, a resident of Kasara in Thane district," senior police inspector Jairaj Ranavare said, adding that another person accompanying Indvale managed to escape.

A case has been registered against various sections of the Indian Penal Code (IPC).

Further investigation is underway.