Kozhikode (Kerala) | Five men including two college students were arrested with fake currency notes in northern Kozhikode district of Kerala, police said on Saturday.

As many as 57 illegally printed currencies of Rs 500 denomination were seized from their possession, they said. Feroke police said the gang was arrested on late previous night.

"The investigation was launched as we received a fake currency recently. Two college students were also among the arrested as they were the ones who had helped to arrange a room for the other accused to print the fake currency," a police officer said.

The gang rented out a colour printer for the crime and some sheets of fake notes printed using the machine were recovered from the room, he said.

As per the preliminary assumption, it was a local gang who tried to print fake currency on low quality papers, he said.

But, a probe would be intensified to find out all aspects in this regard, police added.