Penalty on depositing old ₹500, ₹1,000 notes after March 31
The Cabinet on Wednesday cleared an ordinance to penalise people for depositing over 10 old ₹500 and ₹1,000 notes after March 31, 2017. The ordinance is to extinguish liability of government and the Reserve Bank of India on the demonetised high-denomination notes. The last day to deposit the old notes in banks is December 30.