Multiple choice

Where forged notes or counterfeit currency has been used as genuine, record of such transactions is required to be maintained if the amount of such transaction is

  1. Rs. 50000 or above

  2. Rs. 1 lac or above

  3. Rs. 10 lac or above

  4. irrespective of the amount
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Records should be maintained for all cash transactions where forged or counterfeit currency notes or bank notes have been used as genuine and where any forgery of a valuable security has taken place.

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