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Cabinet approves ordinance to penalize over old currency notes

Wed 28 Dec 2016, 13:00:12

The Cabinet on Wednesday cleared promulgation of an ordinance to penalise persons holding demonetized Rs 500, 1,000 notes.The ordinance is to extinguish the liability of government and RBI on the

demonetised high-denomination notes.

Reports say the name of the Ordinance is 'The Specified Bank Notes Cessation of Liabilities Ordinance'

More details awaited.

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