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The two persons were arrested by the STF following seizure of the fake currency from their possession yesterday, a senior Kolkata Police official said.
The counterfeit notes were in the denomination of Rs 2,000.
After receiving a call from a shopkeeper in Canning Street area of the city, the STF personnel rushed to the spot and seized the counterfeit notes from the possession of the two persons, identified as Mohammed Abdus Sattar and Azad, the official said.
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“They will be produced at a city court today. We are trying to find out whether they have links to an international racket across the border. Our investigation is at an early stage,” he said.