A 21-year-old man was arrested by Goshamahal police for allegedly circulating counterfeit ₹500 notes among petty vendors in Begum Bazar by purchasing goods and collecting ₹400 in genuine currency as change for each fake note.
The accused, Vikram, a private employee and a native of Rajasthan, was found with 16 counterfeit ₹500 notes with a face value of ₹8,000, police said.
The case came to light around 9 p.m. on September 25 when an Assistant Sub-Inspector and a Head Constable, who were patrolling near Begum Bazar Chatri, noticed Vikram and intercepted him on suspicion.
During questioning, he allegedly told police that he had been passing the counterfeit notes to petty vendors and receiving ₹400 in genuine currency as change against each ₹500 note.
Police said Vikram claimed to have obtained the counterfeit currency from his friend Ashok, who is absconding. Investigators are now trying to trace Ashok and establish the source of the counterfeit notes and the wider network involved in their circulation.
Vikram was arrested later that night and subsequently sent to judicial remand.
Goshamahal police also asked petty vendors and shopkeepers to exercise caution while accepting ₹500 notes, particularly during busy hours. They advised people who encounter suspected counterfeit currency not to confront the person attempting to use it, but instead note identifying details and inform the police.
Published – September 27, 2026 08:58 pm IST
