Venkat Reddy (28) of Hoskote taluk and Chakrapani (45) of Kolar district were apprehended last Saturday when they were attempting to circulate counterfeit notes by seeking change from customers of HDFC and HSBC Banks in Gandhi Bazaar, Basavanagudi.
According to the police, the duo came under the scanner after forged notes were detected in various bank branches in the neighbourhood.
The duo was reportedly running the racket of forged currency notes with the help of Srinivas alias Seena, a native of KGF, who was arrested by the City Crime Branch recently and is currently in the judicial custody.
While Reddy is a truck driver, Chakrapani works as a TV mechanic. With the duo's arrest, five cases of counterfeit currency notes were solved, police claimed.
Counterfeit notes worth Rs 1.5 lakh and two motorcycles were seized from the duo, police added.
