Demonetised currency News

A visually challenged elderly man found Rs 65,000 in demonetised currency He approached the District Collector to get the currency converted

Police recovered demonetised currency worth crores from a residential premises in Kanpur. 

Besides the currency notes, one two-wheeler and three mobile phones were also seized from the accused.

Nine persons were arrested on charges of funding terror in Jammu and Kashmir by NIA. 

The SC had on December 16, last year referred to a Constitution Bench, the issue of validity of government's decision to demonetise currency notes of Rs 1,000 and Rs 500.

The Banking Union had demanded overtime for the extra hours put in by staff during the 50-day window that ended on December 30, however they are yet to get their dues.

The CIC has directed a probe into the exchange of demonetised currency at a post office in Palam here as it emerged from an RTI response that there were prima facie irregularities in the exchange of notes.

The RBI in its Annual Report for 2016-17 said that 99 per cent of the junked 500 and 1,000 rupee notes has returned to the banking system. 

Fifteen persons were arrested from Bengaluru on Tuesday and demonetised currency totalling Rs 5.75 crore was seized from them, police said on Tuesday.

Police on Tuesday seized demonetised currency notes having face value of Rs 42 lakh and detained two persons travelling in a Maharashtra state transport bus which was on its way from Nasik to Ahmedabad.

While the Reserve Bank of India (RBI) is still reconciling the quantum of demonetised currency that has been returned to banks by the December 30, 2016 deadline, NITI Aayog Member Bibek Debroy feels about 10 per cent of such notes won`t return to the system.

The inmates, undergoing rigorous imprisonment for life, in their petition submitted that it became a problem for the prisoners, confined in jail, to deposit cash in hand of more than Rs 50,000 in demonetised currency notes of Rs 500 and Rs 1,000.