BACK TO SECTIONS
N/ACognizable: N/AN/A
Reform Highlights
1
Definition preserved from IPC Section 489A framework.
2
Covers RBI notes, coins, and any bearer instrument intended as a money substitute.
3
Provides definitional basis for counterfeiting offences (Life imprisonment, BNS Chapter XIII).
THE STATUTE
The Clause
The expression 'currency-notes or bank-notes' denotes promissory notes or bills of exchange expressed to be payable to the bearer on demand issued by any person, bank, association, or Government, and intended to be used as equivalent to, or as a substitute for, money.
Legal Commentary
Section 11 provides the definitional anchor for all counterfeiting offences in Chapter XIII of the BNS. By defining 'currency-notes or bank-notes' broadly to include any promissory note or bill of exchange issued by any person, bank, association, or Government intended as a money substitute, the provision ensures that counterfeiting laws cover not just RBI-issued Indian Rupee notes but any instrument functioning as currency equivalent. This breadth was designed to adapt to evolving monetary instruments and prevents counterfeiters from exploiting technical gaps by targeting non-standard currency equivalents.
Case Simulations
"An RBI-issued ₹500 note — currency note under Section 11."
"A private bearer cheque intended as money equivalent — potentially covered under the broad definition."
Expert Insights
Any promissory note or bill of exchange payable to the bearer on demand, issued by any person, bank, or government, and intended to be used as money or a substitute for money — including RBI currency notes and any analogous instrument.