All notes were in the denomination of Rs 500.
Acting on a tip-off, the Special Task Force (STF) of Bihar Police arrested the three from a hotel in Vaishali district, STF Deputy Superintendent of Police (STF) Gopal Paswan said.
One of those arrested, one Mohammad Shakeel hails from Nabi Karim area of New Delhi.
"The two others are Mohammad Shaukat of Sheikhdumri village in Saran district and Mohammad Jamaluddin Hasan of Marichha village in Vaishali district," Paswan said.