What if I found old notes after 31 December?

Everybody who is holding old currency notes cannot be considered as black money holders Who is keeping the old currency notes? read more

Possession of old notes after December 30 may invite penalty of over Rs 50,000. The government may bring in an ordinance to penalise those found holding “high amount” of junked Rs 500 and Rs 1,000 banknotes after December 30, the last date for depositing the scrapped currency in banks. read more

If some body still has the old currency notes the commercial banks are not allowed to accept deposit or exchange these notes and hence before 31-March-2017 the person has to approach any of the RBI offices and submit an affidavit explain the source of the money and the reason for not being able to exchange the notes in commercial banks. read more

Another source added that the exchange of limited value in old notes will be allowed at RBI offices, beyond December 30. “There will strict monitoring of the source of the notes being exchanged after December 30,” explained the source, who also did not wish to be named. read more