The seizure was made after police got a tip-off that some persons were carrying suspicious items on a scooty from Lathi town to Amreli.
"Police stopped the two-wheeler at a circle on Bhavnagar road and searched it. They found a bag full of fake currency notes in Rs 2,000 and Rs 500 denominations in the possession of two persons," an official of Amreli crime branch said.
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The two men, identified as Sachin Parmar and Paresh Solanki, were later arrested and booked under IPC sections 489 (B)(C) (using forged or counterfeit notes as genuine), 120 (B) (criminal conspiracy), and 34 (act done by several persons in furtherance of common intention), he said.
Parmar hails from Bhavnagar while Solanki is from Lathi town in Amreli, he said.
As per preliminary investigation, some unidentified men gave the bag to the duo and asked them to deliver it to some persons in Amreli to circulate the fake notes in the market, the official said