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Specified Bank Notes News

10 Aug 2018

Government confirms it has no proposal to withdraw Rs 2,000 notes

RBI introduced Rs 2,000 notes following demonetisation of high value Rs 500 and Rs 1,000 notes in November 2016.

25 Jul 2017

Demonetisation: RBI processing old notes to verify numerical accuracy, says Arun Jaitley

The old 500 and 1,000 rupee notes are being reconciled and processed by the RBI for verifying numerical accuracy and authenticity and the progress is being closely monitored, Finance Minister Arun Jaitley said on Tuesday.

21 Mar 2017

Congress MP highlights problems being faced by people in changing notes

A Congress MP on Tuesday highlighted in the Lok Sabha the hardships being faced by the people in exchanging the scrapped currency notes, saying only a few RBI offices have the facility and the government should intervene.

10 Mar 2017

Notes in circulation drop to Rs 11.73 lakh crore, post demonetisation

The total value of currency notes in circulation has come down by a quarter to Rs 11.73 lakh crore post demonetisation, Parliament was informed Friday.

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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