No jail term for holding old notes, minimum fine of ₹10,000
A day after approving an ordinance regarding punishment for holding old notes, government officials clarified there will be no jail term for the same. However, the minimum fine for holding old notes will be ₹10,000. Earlier, reports said possession of over 10 scrapped notes after March 31, 2017 may attract fines and jail term of up to four years.