Arun Jaitley introduces note ban bill in Lok Sabha
Finance Minister Arun Jaitley has introduced the Specified Bank Notes (Cessation of Liabilities) Bill 2017 in Lok Sabha. The Bill aims at replacing the note ban ordinance that extinguishes the liability of the government and the RBI on demonetised high-value notes. The ordinance was approved by the President in December, making it illegal to hold, transfer, or receive old notes.