KATHMANDU: The Central Investigation Bureau of Nepal Police on Tuesday has said that two Indian Nationals have been arrested for their alleged involvement in smuggling the fake Indian currency of face value IRS 50,50,000 from Budanilakantha Municipality-2.

Acting on a tip-off, a special police team deployed from the CIB arrested 34-year-old Kiran Barma aka Kiran Kumar Soni and 40-year-old Anil Kumar Soni of Haryana in India, from their rented rooms in Budanilakantha Municipality, on the northern outskirts of Kathmandu, yesterday.

Police said they seized 2,600 notes of INR 500 denomination and 3750 notes of INR 1000 denomination from rented room of Kiran Kumar Soni in the area.

Meanwhile, police said the suspects have been sent to the Hariharbhawan-based Department of Revenue Investigation for further investigation and action today.

Earlier, the Indian government had demonetised INR 500 and 1,000 on November 8 last year as part of the ‘crackdown on rampant corruption and counterfeit currency’.