The IPC 1860 was replaced by the BNS 2023 (in force 2024-07-01); no verified section mapping on file for Section 489B — confirm the corresponding provision (savings: Section 358, BNS 2023).
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--Imprisonment for life, or imprisonment for 10 years and fine--Cognizable--Non-bailable--Triable by Court of Session--Non-compoundable.