IPC 489A vs BNS 489A
● Retained in BNSCounterfeiting currency notes, knowing them to be forged
Section 489A of the Indian Penal Code, 1860, deals with making, possessing, or using counterfeit currency notes or banknotes, knowing them to be forged, with intent to defraud. This section targets acts that directly threaten financial security and public trust in currency, emphasizing strict protection of monetary instruments.
Key points:
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Applies when a person produces, possesses, or uses counterfeit currency knowing it is fake, with intent to defraud.
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Punishment: Imprisonment up to 7 years, and fine, reflecting the severity of the offence.
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Protects government revenue, public confidence, and economic stability.
For example, manufacturing fake banknotes and distributing them for purchases constitutes an offence under IPC 489A. This provision ensures strict deterrence against fraudulent acts compromising currency and financial systems.
Counterfeiting currency notes, knowing them to be forged
Section 489A of the Bharatiya Nyaya Sanhita, 2023, mirrors IPC 489A, punishing acts where a person makes, possesses, or uses counterfeit currency notes knowing them to be forged, with intent to defraud. This provision safeguards public trust, monetary instruments, and economic security.
Key points:
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Covers production, possession, or use of counterfeit currency with knowledge of forgery for fraudulent purposes.
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Punishment: Imprisonment up to 7 years, and fine, same as IPC.
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Ensures accountability for criminal acts undermining financial systems and public confidence.
For instance, distributing fake notes in the market to gain unlawful profit falls under BNS 489A. This aligns with IPC 489A to protect monetary integrity and prevent currency fraud.
What changed?
This provision was carried over to the Bharatiya Nyaya Sanhita with substantially the same wording — the section was renumbered from IPC IPC 489A to BNS BNS 489A.