Curbing financial crimes: Does Indian Penal Code need a revamp?

Experts share their views on the need for an overhaul of the Code, framed in 1860, in view of the recent spate of high-profile financial crimes

Bring harmony among diverse laws

The Indian Penal Code, 1860, is the primary statute governing criminal offences in India. It is a century-and-half-year-old statute that was instituted by the British to control the colonial population. It needs to be revamped because there have been many changes in the nature of criminal activities that have not been captured in the description of offences and punishment as entailed in the IPC.

Economic and technological changes have created a new class of financial crimes, which can refer to any non-violent crime that generally results in a financial loss, including fraud. This class