The US currency notes found by a ragpicker near a railway track here turned out to be fake, police said on Friday. Based on the preliminary findings, a case has been registered under Section 489 A (counterfeiting currency notes) of the Indian Penal Code at Hebbal police station and an investigation is underway, a senior police officer said.

"The HDFC Bank, the nodal bank appointed by the Reserve Bank of India to check the authenticity of the notes, found them to be fake. These notes were either printed or photocopied," he said.

According to police, the ragpicker found 23 bundles of USD 100 with 100 notes in each of them wrapped in paper on November 3, following which he informed his employer who in turn approached a social activist.

The social activist then informed Bengaluru City Police Commissioner B Dayananda and handed over the notes to him, and an investigation was initiated into the matter.

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