IPC 261 vs BNS 261
● Retained in BNSCounterfeiting Government security
Section 261 of the Indian Penal Code, 1860, deals with counterfeiting government securities. Government securities are instruments like bonds, promissory notes, or treasury receipts issued by the state for financial purposes. Counterfeiting these instruments threatens public trust and financial stability, making it a serious offence.
Key points:
-
Applies to any individual who makes, forges, or counterfeits government securities.
-
Intention to defraud the public or government is essential.
-
Punishment: Imprisonment for life or imprisonment up to 14 years, and fine.
Example: If a person creates fake government bonds and tries to sell them to investors, IPC 261 applies. This law safeguards government finances and investor confidence, ensuring the authenticity of securities.
Counterfeiting Government security
Section 261 of the Bharatiya Nyaya Sanhita, 2023, mirrors IPC 261. It punishes anyone who counterfeits, makes, or attempts to make fake government securities with the intent to defraud.
Key points:
-
Includes manufacture, possession, or sale of counterfeit government securities.
-
Knowledge and fraudulent intent are necessary for prosecution.
-
Punishment: Imprisonment for life or imprisonment up to 14 years, and fine.
Example: A person printing fake treasury bills and selling them to the public falls under BNS 261. The provision ensures strong deterrence against financial fraud and protects the government’s credibility in issuing securities.
What changed?
This provision was carried over to the Bharatiya Nyaya Sanhita with substantially the same wording — the section was renumbered from IPC IPC 261 to BNS BNS 261.