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Latest Articles in Old notes

Will Release Numbers On Junked Notes At Earliest, Says RBI

Putting speculation to rest on quantum of scrapped notes deposited in banks and post offices, the RBI on Thursday (January 05) said it is reconciling invalid currency to physical balance and will release the numbers at the earliest.

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RBI May Have Received Rs 15 Lakh Crore Deposits Of Old Notes

The Reserve Bank is believed to have received deposits close to Rs 15 lakh crore, of estimated Rs 15.4 lakh crore worth junked Rs 500/1,000 currency notes that were in circulation, from the 50-day demonetisation exercise that ended on December 30

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Ordinance Criminalising Holding Junked Notes Gets President's Assent

In a bid to check a parallel economy being run on junked currency, the government on Friday made holding, transfer and receiving of the demonetised note a criminal offence, punishable with a minimum fine of Rs 10,000

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Demonetisation: Deadline To Deposit Junked Notes Ends Today

People will have time to exchange the currency notes at designated RBI counters till March 31 after giving valid reasons for not depositing defunct notes in their accounts by December 30

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Minimum Rs 10,000 Fine For Holding Old Notes, No Jail Term

The government has made holding of more than 10 junked Rs 500/1000 notes a penal offence punishable with a minimum Rs 10,000 fine, but the harsher four-year jail term has been dropped

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Prime Minister Modi Likely To Address Nation Soon

With the 50-day period for depositing of demonetised notes expiring on Friday, Prime Minister Narendra Modi is set to address the nation before the dawn of the New Year

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Year Of Exits At RBI: First Raghuram Rajan, Then Old Notes!

First, it was outspoken Raghuram Rajan and then old Rs 500/1,000 notes, including those bearing his signature -- 2016 saw them exit the Mint Street riding such big waves of controversies that their ripple effect is bound to be felt in the new year

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Cabinet Clears Ordinance To Penalise Persons With Old Notes

The Cabinet on Wednesday approved promulgation of an ordinance to impose a penalty, including a jail term, for possession of the scrapped 500 and 1,000 rupee notes beyond a cut-off

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Currency Worth Rs 5.92 Lakh Crore Issued Since Demonetisation, Says RBI

The Reserve Bank of India has said banks have issued currency worth over Rs 5.92 lakh crore to the public since the demonetisation of old high value notes last month

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Demonetisation | Government Tightens Norms For Deposit Of Old Currency Notes

Tightening rules for depositing junked 500 and 1,000 rupee notes, the government on Monday said individuals can deposit over Rs 5,000 in old currency bills only once until December 30 and that too after explaining why it had not been done so far

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SC With Govt On Old Notes Issue; Refers Demonestisation Move To Constitution Bench

The Supreme Court on Friday refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets but referred to a Constitution Bench the issue of validity of the government's demonetisation decision

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Finance Ministry Asks RBI, Banks To Double-check Old Notes Deposit Data

Finance Ministry on Thursday exuded confidence that supply of new currency notes will considerably improve in next 2-3 weeks even as it asked the RBI and banks to "countercheck" the data regarding deposit of now-defunct currency notes to ensure there is no double counting

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Government Received Rs 12.44 Trillion Of Old, Invalid Notes So Far, Says RBI

Indian banks received Rs 12.44 trillion of old, high-value currency notes that were abolished by the government last month, Reserve Bank of India Deputy Governor R Gandhi said

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