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

  1. IPC 489C in Simple Words
  2. IPC Section 489C related FAQs
Whoever has in his possession any forged or counterfeit currency-note or bank-note, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, shall be punished with imprisonment of either description for a term which may extend to seven years, or with fine, or with both.

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.

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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.