Samiluddin, who hails from Balasore, was nabbed basing on an investigation and leads from two students, who were earlier caught circulating fake Rs 2,000 notes in the market on Wednesday.
The two students were detained by Rasagobindpur police they were trying to purchase clothes from a store in Baripada by handing the shopkeeper a Rs 2,000 note.
On suspecting the authenticity of the currency, the shopkeeper sought assistance of other shopkeepers. Later, both the students were detained by the locals after the Rs 2,000 note was found to be fake.
Senior police officials informed that 90 counterfeit currency of Rs 2,000 denomination have been recovered from Samiluddin and further investigation in connection with the incident is on.