Police on Thursday evening seized the counterfeit notes from Changunarayan area of Bhaktapur.
A joint police team deployed from Metropolitan Police Circle, Thankot and Police Range Changunarayan confiscated the fake notes worth Rs 1.5 million.
Police said that they have arrested nine persons for their alleged involvement in the transaction of fake notes.
Acting on a tip-off, the police team carried out a raid at the rented room of Arjun Subedi and recovered the fake notes, Superintendent of Police (SP) Prajit KC said.
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