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SECTION 489C IPC - Indian Penal Code - Possession of forged or counterfeit currency-notes or bank-notes
Last Updated: 01 Apr, 2024
By Advocate Chikirsha Mohanty
Table of Contents
IPC 489C in Simple Words
If someone knowingly possesses forged or counterfeit currency notes or banknotes with the intent to use them as genuine or allow others to use them as genuine, they can be punished with imprisonment for up to seven years, a fine, or both.
| Offence | Punishment | Cognizance | Bail | Triable |
|---|---|---|---|---|
| Possession of forged or counterfeit currency-notes or bank-notes | 7 Years or Fine or Both | Cognizable | Bailable | Court of Session |
Offence : Possession of forged or counterfeit currency-notes or bank-notes
Punishment : 7 Years or Fine or Both
Cognizance : Cognizable
Bail : Bailable
Triable : Court of Session
Anyone who has a forged currency-note or counterfeit bank-note in their possession, and knows or has reason to believe that they are forged, or intends to use them as genuine or to pretend to be genuine, will be punished by imprisonment for any term, including a long-term prison sentence.
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Frequently Asked Questions
Is 489 B IPC bailable?
This section is not bailable, Recognizable or compoundable.
What is counterfeit currency report?
Counterfeit Currency Reporting (CCR) In accordance with Rule 8 of the PMLA, Rule 3(1)(C) requires reporting all cash transactions in which counterfeit or forged Indian currency notes are used as genuine. The RBI circular dated May 22 2008 provided the format for the CCR to be reported to FIU-IND.
