Illegal to hold old Rs 500 notes | Zee News

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NewsIllegal to hold old Rs 500 notes

Illegal to hold old Rs 500 notes News

Illegal to hold old Rs 500 notes

30 Dec 2016

Owning Rs 500, Rs 1,000 old notes illegal; President promulgates Ordinance criminalising ownership of such note

President Pranab Mukherjee on Friday promulgated the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016, which criminalises holding of Rs 5,00 and Rs 1,000 notes, and makes holding, transferring and receiving of these specified bank notes illegal and punishable with imposition of penalty.

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