The counterfeit notes were seized last night from the person who roused suspicions of policemen by his movements.
Police said 400 fake notes in the denomination of Rs 500 and 200 others of Rs 1000 denomination were seized from the person, who was arrested.
The man was identified as a resident of Babla Kamalpur area of Kaliachak in Malda district, police said.
The man is suspected to be a carrier and investigations are on, they added.
Malda district has emerged as a major transit route for fake Indian currency note brought from Bangladesh and Nepal and then circulated across the country.