Jatin Solanki (25), Vijay Kamble (35) and Sachin Bansi (37) were arrested in suburban Bandra by Unit-IX of the Crime Branch on a specific information that they were coming to deliver the fake currency, a senior police official said.
The notes were printed at the house of one of the accused in Nalasopara in the Palghar district, he said.
"During interrogation, the accused confessed they had printed these notes," said Shashikant Satao, Deputy Commissioner of Police (Crime).
The accused managed to print the fake currency note, which had at least six features similar to the original one, the officer added.
The accused had a plan to circulate these notes at petrol pumps and hotels, police said, adding a probe was on.
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