Two business management graduates from Davanagere, including a girl, have been arrested on the charge of circulating fake currency notes with a face value of Rs 200, police said.

Chethan Gowda (23) and his girlfriend Arpita P Navale, both belonging to Davanagere, were held on Wednesday.

An SUV, a printer and materials used for printing the fake currency have been seized from the accused, the police said.