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NewsIllegal to own old Rs 1000 notes

Illegal to own old Rs 1000 notes News

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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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