Section 489

(No sections).

Currency notes and bank notes

Counterfeiting currency notes or bank notes 489A.

Whoever counterfeits, or knowingly performs any part of the process of counterfeiting, any currency note or bank note, shall be punished with imprisonment for a term not exceeding 15 years and fine.

Explanation -

For the purposes of this section and of sections 489B,

489C and 489D, "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.

Using as genuine forged or counterfeit currency notes or bank notes 489B.

Whoever -

sells to, or buys or receives from, any other person; or

otherwise traffics in or uses as genuine,

makes, or performs any part of the process of making, or buys or sells or disposes of; or

has in his possession, any machinery, instrument or material, for the purpose of being used, or knowing or having reason to believe that it is intended to be used, for forging or counterfeiting any currency note or bank note, shall be punished with imprisonment for a term not exceeding 10 years and fine.