Fake Currency Note Rules: A Delhi court has convicted two people in a 4-year-old case of possession and use of fake 2000 rupee notes. The court has taken this action under Section 489B (using genuine, forged or counterfeit currency notes or bank notes) and Section 489C (possessing forged or counterfeit notes) of the IPC. 29 fake notes of 2000 rupees have been recovered from these people. Do you know that just printing or circulating a fake note, even knowing that it is fake, trying to use it can land you 7 years in jail. Let’s know what is the complete rule regarding this.
What is the law regarding fake notes?
There is a provision of strict punishment for using, making, circulating, or possessing fake currency in India. It is a serious offense and is punishable under the Indian Penal Code (IPC), 1860 and other legal provisions.
Section 489A
Section 489A – Making or forging counterfeit notes. This carries a punishment of life imprisonment or imprisonment of up to 10 years and fine.
Section 489B
Section 489B – Using or circulating counterfeit notes. This carries a punishment of life imprisonment or imprisonment of up to 10 years and fine.
Section 489C
Section 489C – Possession or possession of counterfeit notes (if it is proved that the person knew that they were fake). Imprisonment up to 7 years and fine.
Section 489D
Section 489D – Making or possessing instruments or plates for printing counterfeit notes. This carries a punishment of life imprisonment or imprisonment of up to 10 years and fine.
Section 489E
Section 489E – Printing advertisements, documents or material similar to genuine currency notes. This can lead to imprisonment of up to 6 months or fine or both.
What are the other laws
Action can also be taken under anti-terrorism laws (UAPA, PMLA) if fake notes are being used in anti-national activities. Cases related to fake currency can be investigated under the Reserve Bank of India (RBI) Act, 1934.
What to do if you get a fake note?
If you also get a fake note, immediately inform the nearest bank or police. Avoid giving or using the fake note to anyone else, as this is also a crime. The bank will confiscate the fake note and inform the police and RBI about it.
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