Here we are going to explain what is punishable offence in this section and how much has imprisonment or fine under section 489B.
Using as genuine, forged or counterfeit currency-notes or bank-notes :- in this section states that 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 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.
CLASSIFICATION OF OFFENCE Punishment:
Offence: - Using as genuine forged or counterfeit currency-notes or bank-notes
Punishment - Imprisonment for Life or 10 Years + Fine
This is a Non-Bailable, Cognizable offence and Triable by Court of Session.