Counterfeiting currency-notes or bank-notes
AI Assist
Summary
Counterfeiting, or knowingly taking part in any step of making a currency-note or bank-note, is a very serious offence. The offender may be sentenced to imprisonment for life, or to imprisonment of either description for up to ten years, and must also pay a fine. 'Bank-note' covers promissory notes issued by banks or by state authority intended to be used like money.
Example
Ravi runs a small print shop and knowingly prints sheets later used to make fake currency-notes. If charged under this section, he can be prosecuted and, on conviction, may receive life imprisonment or up to ten years in jail plus a fine.
Bare Act
Enacted textWhoever counterfeits, or knowingly performs any part of the process of counterfeiting, any currency-note or bank-note, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.
Explanations
(1) For the purposes of this section and of sections 489B, 489C, 489D and 489E, the expression “bank-note” means a promissory note or engagement for the payment of money to bearer on demand issued by any person carrying on the business of banking in any part of the world, or issued by or under the authority of any State or Sovereign Power, and intended to be used as equivalent to, or as a substitute for money.
Previous year papers
Pick your exam. we'll email the most recent paper.