Police from the Special Operations Group today arrested two persons with fake currency notes with a face value of Rs 4.80 lakh.
The two, identified as Junaid Memon and Virat Raval, both from Palanpur in Banaskantha district, were arrested near Geeta Mandir bus station, official said.
They have claimed that they printed the notes using colour printers and did so because they had accumulated debts, said officials.
Further investigations are underway, an official said.