Arun Jaitley introduces Demonetisation Bill in Lok sabha

Arun Jaitley introduces Demonetisation Bill in Lok sabha
February 4, 2017

Finance Minister Arun Jaitley on Friday introduced a Bill on demonetization in the Lok Sabha to formally make the banning of Rs 500 and Rs 1,000 notes a law.
The Specified Bank Notes (Cessation of Liabilities) Bill, 2017, seeks to replace the ordinance on demonetization promulgated by the government in December 2016.
The Specified Bank Notes (Cessation of Liabilities) Bill states holding, transfer and receiving of the recalled Rs 500 and Rs 1,000 notes will amount to a criminal offence punishable with a minimum fine of Rs 10,000.

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