The President of India approves the Promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today (30-12-2016)


The Ordinance is a follow-up to the decision taken by the Government of India to cancel the legal tender character of the existing series of banknotes, as on November 8, 2016, in the denominations of Rs.500 and Rs.1000 (Specified Bank Notes-SBNs) in circulation. The main objectives of the Ordinance are (i) to provide clarity and … Continue reading The President of India approves the Promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today (30-12-2016)