Tag Archives: Section – 163 of Finance Act 2016

Cash withdrawal from Bank and use of RS 500 old note : RBI updated FAQ 04.12.2016

By | December 5, 2016

Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on December 05, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even… Read More »