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Kolkata (PTI): A 68-year-old man was arrested from Kolkata on Thursday morning after fake Indian currency notes (FICN) with a face value of Rs 2.99 lakh were seized from his possession, police said.

Acting on a tip-off, the Special Task Force (STF) of Kolkata Police apprehended the person from the Dharmatala bus stand area in the central part of the city, he said.

“Six bundles of FICN of Rs 500 denomination were seized from his possession. The person seems to be a member of a racket involved in fake currency note supply. A case has been filed against him and he will be produced in a local court later today,” he said.

The accused is a resident of Malda district, the officer said, adding that a probe into the matter is underway.