Strengthening demonetization with introduction of Specified Bank Notes (Cessation of Liabilities) Bill in Lok Sabha stating that transfer, holding and receiving of old Rs 500 and Rs 1000 currency notes is a criminal offence, and punishable with a maximum fine of Rs 10,000. Objective of bill is to end the liability of RBI and government on the currency notes.
Nishant Gambhir is the editor and founder of Law in 60.
