Diabytes
Specified Bank Notes News
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RBI introduced Rs 2,000 notes following demonetisation of high value Rs 500 and Rs 1,000 notes in November 2016.
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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.
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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.
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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.
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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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