Acting on a tip off, the police raided the house and seized Rs 2.56 lakh in denomination of Rs 500 and Rs 1000 of which most of the currency notes were found to be fake ones, Senior Superintendent of Police K S Anupam said.
Besides a pistol, 30 cartridge of SLR and two magazines were recovered from the house of Rajesh Kumar, he said.
A native of Ghogha village under Kahalgaon police station area in the district, the accused was living in the house of a fruit vendor on rent and used to visit Goa.
The SSP said he has ordered probe into his bank accounts as well directed the cops to arrest the accused, who was absconding.