Manjit Singh (40), committed suicide on Monday, police said here.
The deceased was serving a four-year jail term after he was held guilty by a court on February 20 this year for possessing and printing counterfeit currency.
District authorities will hold an inquiry in this regard, Superintendent Jail P K Garg said.
In another incident, an undertrial woman identified as Tarsem Kaur had also tried to commit suicide in the jail on Sunday evening, the Superintendent of Jail said.