The last date for depositing old currency notes is March 31 and, according to new law, possession of old currency…
(Photo: AFP)
The last date for depositing old currency notes is March 31 and, according to new law, possession of old currency notes will attract stringent action. Crowd outside the Reserve Bank of India (RBI) is getting bigger and the queues longer, but many people are still confused whether they are eligible for exchange of old currency notes.
“Ineligible people are responsible for the long queues outside the RBI,” Minister of State for Finance Arjun Ram Meghwal said.
Here are few points to clarify your doubts on the new currency exchange rules.
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People have been exchanging old currency notes for new ones ever since the Prime Minister Narendra Modi announced to scrap old notes of 500 and 1,000 Rupees in an effort to curb black money and combat terrorism, The announcement was made on November 8, 2016.
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