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Demonetisation of old 500 and 1000 rupee notes

News and Press Release - Dated:- 7-2-2017 - The matter to demonetise currency was under discussion and consultation with RBI for several months preceding 8th November, 2016. The Government in a letter dated 7th November, 2016 requested RBI to conside .....

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its meeting held on November 8, 2016 deliberated in detail a proposal for withdrawal of legal tender status of banknotes in the denomination of ₹ 500 and ₹ 1000 of existing and any older series in circulation and after due examination rec .....

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l Government, on the recommendation of the Central Board of RBI, with effect from the expiry of the 8th November, 2016 in exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), with the o .....

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on of FICN into the economy. Reports have stated that the objective of infusing FICN into India is a combination of various factors that include destabilising the Indian economy, funding terrorists with the proceeds of FICN trade and using existing F .....

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h report, mentions that large amount of unaccounted wealth is stored and used in the form of cash and also there have been huge cash recoveries by law-enforcement agencies, from time to time. The White Paper on Black Money by the Department of Revenu .....

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