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Cabinet passes ordinance; fine, jail for holding old notes

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Anyone possessing old, banned notes post March 31, 2017 will have to face 4-year jail term and those involved in transactions have to pay a penalty of Rs 5000.

New Delhi, 28 Dec 2016 : The Cabinet on Wednesday approved an ordinance to impose penalties on anyone possessing the demonetised Rs 500 and Rs 1,000 notes.

The penalty for holding old currency in excess of 10 notes may include financial fines and a jail term of up to 4 years in certain cases.

The ordinance, named as ‘The Specified Bank Notes Cessation of Liabilities Ordinance’, is to extinguish liability of government and RBI on the demonetised high-denomination notes.

In a surprise announcement by Prime Minister Narendra Modi on November 8, Rs 500 and Rs 1000 notes were declared as illegal currency.

The government had, while announcing the demonetisation of the old currency on November 8, allowed holders to either exchange them or deposit in bank and post office accounts. While the facility to exchange the old notes has since been withdrawn, depositors have time till Friday to deposit the holding in their accounts.

In 1978, a similar ordinance was issued to end the government’s liability after Rs 1,000, Rs 5,000 and Rs 10,000 notes were demonetised by the Janata Party government under Morarji Desai.

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SAD breaks alliance with BJP Leaves NDA in protest against farmers ordinance

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Chandigarh, 26 Sep : The Shiromani Akali Dal (SAD) has severed its alliance with the BJP. The Akali Dal had a 22-year-old alliance with the BJP.

The decision was taken after a meeting of the Akali Dal’s Kaur Committee which lasted for more than four hours today. Mr. Sukhbir Singh Badal addressed the press after the meeting and announced that he would no longer be a part of BJP-NDA.

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Bigg boss 13: Siddharth Shukla won, Asim first runnerup

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Delhi court convicts 19 persons in Bihar’s Muzaffarpur shelter home case

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New Delhi, 20 Jan : The Saket court in Delhi on Monday convicted 19 accused, including high-profile Brajesh Thakur, in connection with the alleged sexual and physical assaults on girl inmates at a shelter home in Bihar’s Muzaffarpur district.

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