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7. Section 489 B of the Indian Penal Code provides 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 notes 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 extent to ten years, and shall also be liable to fine.

The far reaching consequences of the circulation of counterfeit currency notes in the country were borne in mind by the law makers. Circulation of counterfeit currency would cause irreparable harm to our economy. Existence of a parallel economy would be highly detrimental to the growth of the nation. It affects the society as a whole. Offences affecting the people at large are to be viewed in a different angle. In such cases, harm would be caused not to an individual or to a few individuals. The adverse impact of trafficking in counterfeit currency in a large scale would be disastrous. It is seen from the study of different cases that some people take it as an ordinary business, the act of dealing in counterfeit currency. It would appear that the society does not cast much of a stigma on such people. If the offences under Section 489 B of the Indian Penal  B.A. NO. 633 OF 2010 :: 6 ::