IPC 489C vs BNS 489C
● Retained in BNSPossessing forged or counterfeit currency for cheating
Section 489C of the Indian Penal Code, 1860, deals with possessing forged or counterfeit currency notes or banknotes with intent to cheat. This section targets individuals who knowingly hold fake currency to deceive others, emphasizing protection of public trust, financial security, and government revenue.
Key points:
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Applies when a person possesses counterfeit currency or banknotes knowing them to be forged, intending to cheat.
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Punishment: Imprisonment up to 7 years, and fine, reflecting the severity of the offence.
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Protects economic stability, lawful financial transactions, and public confidence in currency.
For example, holding counterfeit banknotes with the intention of using them to pay debts or make purchases constitutes an offence under IPC 489C. This provision ensures strict deterrence against acts that compromise currency integrity and financial trust.
Possessing forged or counterfeit currency for cheating
Section 489C of the Bharatiya Nyaya Sanhita, 2023, mirrors IPC 489C, punishing acts where a person possesses forged or counterfeit currency notes or banknotes with intent to cheat. This provision safeguards financial systems, public trust, and government revenue.
Key points:
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Covers possession 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 that undermine economic stability and public confidence.
For instance, storing forged currency with the plan to use it for illegal payments falls under BNS 489C. This aligns with IPC 489C to protect public trust 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 489C to BNS BNS 489C.