RBI Act to be amended to scrap pre-Nov 9 ₹500, ₹1,000 notes
As a part of the demonetisation process, the government is likely to amend the RBI Act to invalidate ₹500 and ₹1,000 notes printed before November 9, reports said. A reference to this effect​ would also be reportedly made in the next year's budget. The government, for now, has resorted to a provision under RBI Act to scrap the high-value notes.