India, Aug. 7 -- A 26-year-old man has been arrested after allegedly purchasing counterfeit currency notes and circulating these in trans-Hindon localities of Ghaziabad, the police said on Wednesday.

Police identified him as Ujjwal Jha, a resident of Mandoli, Delhi, working as an assistant manager at a pharmaceutical firm. He was arrested in the Vasundhara Sector 1 area while heading to Raj Nagar on a two-wheeler to hand over the fake currency to one of his contacts, said officers.

"During interrogation, the suspect told police that he met a person on a social media platform a few months ago. Later, during conversations, this online friend offered to provide him fake notes with the face value of Rs.3 lakh for Rs.1 lakh. He bought them a...