A team of Panaji Police station arrested five persons who had come from Chandigarh a week ago and were using fake Indian currency notes in parts of Panaji and Porvorim.
According to the Superintendent of Police, North Goa, Utkrisht Prasoon, the team has seized fake notes with the face value of Rs 2,96,400 from them.
The police official said that the accused were tracked using technical surveillance.
The fake currency notes seized from them are in denominations of Rs 100, 200, and 2,000.
A case in connection with the same has been lodged at the Panaji police station.
Further investigation is underway.
( With inputs from ANI )
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