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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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