The arrested racketeer was identified as Kabir Hussain, resident of Khanetar in Poonch district, official sources said adding that some more gang members are likely to be arrested after his identifications.

Sources said that the racket was busted jointly by the Jammu Police and sleuths from CID-CI wing of the state police from General Bus Stand area on B C Road in Jammu on Friday morning.

The racket was busted following specific information by CID-CI wing of the state police, sources said adding that more recoveries of fake currency were expected from the arrested racketeer Kabir Hussain by the evening.

After arresting the accused racketeer, the police was questioning him to reveal more about his operation of fake currency racket, sources said.