The joint operation was carried out near Churiantpur border outpost in Malda district.
The fake Indian currency notes, wrapped in a plastic bag and hidden inside a cement bag, were found under the driver's seat of a vehicle, the BSF said in a media statement.
Driver Iqtarul Haque, a resident of Kaliachak in the district, was arrested.
The BSF described smuggling in fake Indian currency notes as a major concern and raised the issue with its Bangladeshi counterpart - the Border Guards Bangladesh.
In the past few months, the BSF seized such fake notes with face value of over Rs.50 lakh.
--IANS (Posted on 24-09-2013)