ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Politics

Cabinet clears ordinance to penalise persons with old currency notes

New Delhi [India], Dec. 28 (ANI): The Cabinet on Wednesday approved promulgation of an Ordinance to make possession of a large number of scrapped banknotes a penal offence making holding of old Rs. 1,000 and 500 notes after March 31st beyond a threshold amount a criminal offence.

ANI Dec 28, 2016 23:18 IST googleads

Cabinet clears ordinance to penalise persons with old currency notes
New Delhi [India], Dec. 28 (ANI): The Cabinet on Wednesday approved promulgation of an Ordinance to make possession of a large number of scrapped banknotes a penal offence making holding of old Rs. 1,000 and 500 notes after March 31st beyond a threshold amount a criminal offence. The possession will attract a monetary fine of Rs. 10,000 or five times the cash held, whichever is higher. The Specified Bank Notes Cessation of Liabilities Ordinance also provides for amending the Reserve Bank of India Act to provide legislative support for scrapping the demonetised banknotes that are not returned. The last date for depositing old currency notes in bank accounts and post offices is expiring on Friday and thereafter, people can deposit such notes only in the RBI after giving valid reason for being unable to do so during the 50 day period as announced by Prime Minister Narendra Modi on November 8. Furnishing wrong information while depositing the old currency between January 1 and March 31 will attract a fine of 5,000 rupees or five times the amount. The Ordinance will come into force once it gets Presidential assent. Of the 15.4 lakh crore rupees worth of currency that was scrapped, about 14 lakh crores rupees have been deposited in banks or exchanged. (ANI)

Get the App

What to Read Next

General News

Fire breaks out at Sheikh Sarai Transport Authority record room

Fire breaks out at Sheikh Sarai Transport Authority record room

A fire broke out at the old Transport Authority building in Sheikh Sarai Phase 2 area of Delhi on Wednesday night, gutting important documents stored in the record room, officials said.

Read More
General News

TMC's jibe at Centre amid LPG crisis due to West Asia conflict

TMC's jibe at Centre amid LPG crisis due to West Asia conflict

In an 'X' post, TMC said the government has "ek hi naara, line mein rahe desh bechara," pointing to past governmental measures including demonetisation, the COVID-19 vaccine rollout, the Special Identification Registration (SIR), and now the LPG shortage. The party described demonetisation as a "Tughlaqi farman" that forced ordinary citizens to wait in serpentine queues outside banks and ATMs for days to access their own money. The post also highlighted the 2020 COVID-19 oxygen crisis, when families stood in long lines outside hospitals and suppliers as the public health system collapsed.

Read More
General News

Notorious snatcher with 40+ cases arrested in North Delhi

Notorious snatcher with 40+ cases arrested in North Delhi

The accused, 26-year-old Farman, a resident of New Usmanpur, is a known history-sheeter with a criminal record spanning over 40 cases.

Read More
General News

19-year-old woman arrested in East Delhi with 55g of smack

19-year-old woman arrested in East Delhi with 55g of smack

The Anti-Narcotics Task Force (ANTF) of the Shahdara district apprehended a 19-year-old woman, identified as Roopa, for her alleged involvement in drug peddling. During the operation, police recovered 55.52 grams of smack (heroin) from her possession in East Delhi's Geeta Colony.

Read More
Politics

Gujarat farmer drives dairy prosperity through scientific breedin

Gujarat farmer drives dairy prosperity through scientific breedin

In India's rapidly expanding dairy sector, a 63-year-old artificial insemination expert from Vaheval village in Gujarat is transforming the livelihoods of dairy farmers through scientific breeding practices. Deepak Patel's decades-long dedication to artificial insemination (AI) has significantly improved cattle productivity and strengthened the economic prospects of farmers in the Mahuva region.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.