Possession of old notes post Dec 30 may draw ₹50,000 penalty
The government may bring in an ordinance to penalise people caught in possession of scrapped notes worth over ₹10,000 after December 30, according to reports. This could draw a fine of minimum ₹50,000 or five times the amount in question, whichever is higher, sources said. There'll be strict monitoring of the source of notes exchanged after December 30, they added.