CHENNAI: The city police arrested two persons in connection with an attempt to deposit fake currency worth several lakhs in a private bank near Guindy on Monday.

On Monday, one of the accused confidently walked into the bank and attempted to deposit Rs 2 lakh in counterfeit currency. The staff of the private bank's Ekkatuthangal branch notified the police after one of their customers, who came to deposit money, had given the bank 99 per cent counterfeit currency.

"Except for the one Rs 500 note, which was genuine, the other 402 currency notes were counterfeit," according to a police official.

The police team from Central Crime Branch (CCB) secured the 'customer', Senthil Kumar (44) of Cuddalore and seized 1000 counterfeit Rs 500 currency notes from him.

Based on his input, CCB personnel on Tuesday arrested his associate, Sampraveen Chandanraj (44) of Pammal. Both the accused were produced before a magistrate and remanded in judicial custody. Search is on for one more person involved in the crime, police said.