Part 13 · Transactions & Movement

Coins & Counterfeiting — The Coinage Act Framework and the Law Against Fake Currency

Coinage Act 2011, counterfeit coins, BNS counterfeiting offences, detecting fakes, and the complete legal framework against fake currency.

16 questions in this part

1 What law governs coins in India — and how is it different from the RBI Act? 2 Who mints coins in India — and who controls their legal status? 3 Can old coins be demonetised the same way notes are? 4 Is collecting rare coins legally different from collecting rare notes? 5 Can you legally melt down old Indian coins for their metal value? 6 Can you drill holes in coins to wear as pendants or incorporate them into jewellery? 7 What is the legal status of proof coins and collector coins issued by the Mint? 8 Are princely state coins legal to collect, sell and export from India? 9 Are Mughal, British India, and ancient coins subject to the Antiquities Act? 10 What happens if you find a coin during construction or on land you own? 11 What happens legally if you unknowingly receive a counterfeit note? 12 What should you do immediately if a bank tells you a note is fake? 13 Can you be arrested for possessing a counterfeit note you didn't know was fake? 14 What are the BNS sections that apply to counterfeiting — and what are the penalties? 15 Can a seller be held liable if they sell you a fake 'error note' — what are the civil and criminal remedies? 16 What is the RBI's official process when a counterfeit note is detected at a bank or currency exchange?