A college student in possession of fake currency notes who was allegedly trying to circulate them has been arrested from Mayurbhanj district, the police said on Friday.
Acting on a tip-off, the police on Thursday arrested the accused, a student of Baripada College.
The police recovered 21 fake notes of Rs 500 denomination from him, said Baripada Town police station inspector in-charge Amit Kumar Biswal.
The student was trying to exchange one such fake Rs 500 note at a shop at Sunagadia area and was caught by locals.
The student told the police that he got the fake notes from a friend who is a resident of Patia in Bhubaneshwar.