An official on Tuesday said that the police have seized counterfeit currency notes, with a face value of Rs 14 lakh and 'Children Bank of India' printed on them, and arrested three persons in this connection in Maharashtra's Palghar district, reported news agency PTI.

After receiving a tip that some persons would reach Pali village to exchange counterfeit notes for genuine currency, a police team laid a trap on February 22, Wada police station's inspector Dattatreya Kindre said while sharing an update on the Palghar crime, reported PTI.