Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023
Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023
Section 178 of the Bharatiya Nyaya Sanhita, 2023, addresses the offense of counterfeiting coins, government stamps, currency notes, or bank notes. This provision criminalizes the act of manufacturing, printing, or imitating these items with the intent to deceive others into believing they are genuine.
Text of Section 178:
"Whoever counterfeits, or knowingly performs any part of the process of counterfeiting, any coin, stamp issued by Government for the purpose of revenue, 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:
Coin: As defined in Section 2 of the Coinage Act, 2011, "coin" includes metal used for the time being as money, which is stamped and issued by or under the authority of any State or Sovereign Power intended to be so used.
Bank-note: Refers to 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.
Government Stamp: Includes any stamp issued by the Government for the purpose of revenue, such as postage stamps or revenue stamps.
Counterfeiting: Involves the act of making a fraudulent imitation of these items with the intent to deceive others.
Punishment:
The offense is punishable with:
Imprisonment for life, or
Imprisonment of either description for a term which may extend to ten years,
Liability to a fine.
Key Points:
Intent to Deceive: The act must be committed with the intention to deceive others into believing the counterfeit item is genuine.
Knowledge of Counterfeiting: Knowingly performing any part of the process of counterfeiting is also punishable under this section.
Scope: Applies to coins, government stamps, currency notes, and bank notes.
Example:
If an individual manufactures fake ₹500 currency notes and circulates them in the market, they would be committing an offense under Section 178 of the BNS, 2023, and could face imprisonment for life or up to ten years, along with a fine
Conclusion:
Section 178 of the Bharatiya Nyaya Sanhita, 2023, establishes stringent penalties for counterfeiting currency-related items, reflecting the seriousness with which such offenses are regarded due to their potential to undermine the economic stability and trust in the financial system.
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