New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Which one of the following sections of the Indian Penal

    Code relates with punishment for counterfeiting currency notes or Bank notes? 
    A Section 489A Correct Answer Incorrect Answer
    B Section 489B Correct Answer Incorrect Answer
    C Section 489C Correct Answer Incorrect Answer
    D Section 489D. Correct Answer Incorrect Answer

    Solution

    S. 489 A Counterfeiting currency-notes or bank-notes. Whoever counterfeits, or knowingly performs any part of the process of counterfeiting, any currency-note or bank-note, shall be punished with imprisonment for life, or with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.   Explanation. For the purposes of this section and of sections 489B, 489C, 489D and 489E, the expression "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.

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