Whoever has in his possession any forged or counterfeit coin, stamp issued by Government for the purpose of revenue, currency-note or bank-note, knowing or having reason to believe the same to be forged or counterfeit and intending to use the same as genuine or that it may be used as genuine, shall be punished with imprisonment of either description for a term which may extend to seven years, or with fine, or with both.

Classification of Offence as per Bharatiya Nagarik Suraksha Sanhita (BNSS)

• Punishment:
  • Imprisonment for 7 years, or fine, or both.
• Cognizable
• Non-bailable
• Triable by Court of Session.