Section 489B of The Indian Penal Code, 1860 View Chapter 18

Using as genuine, forged or counterfeit currency-notes or bank-notes.

Of Currency-Notes and Bank-Notes

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Whoever sells to, or buys or receives from, any other person, or otherwise traffics in or uses as genuine, any forged or counterfeit currency-note or bank-note, knowing or having reason to believe the same to be forged or counterfeit, shall be punished with 1 [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.

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Footnote -

1. Subs. by Act 26 of 1955, s. 117 and the Sch., for "transportation for life" (w.e.f. 1-1-1956).