Withdrawal of legal tender status for specified high-denomination banknotes, with limited airport and tourist exchange exceptions. Withdrawal of legal tender status for existing and older series high-denomination banknotes is effective from midnight of November 8, 2016, with limited transitional exceptions permitting exchange at international airports and by foreign tourists for small-value holdings until November 11, 2016; Authorised Persons must implement and notify constituents, and the directions are issued under FEMA provisions without prejudice to other legal permissions.
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Provisions expressly mentioned in the judgment/order text.
Withdrawal of legal tender status for specified high-denomination banknotes, with limited airport and tourist exchange exceptions.
Withdrawal of legal tender status for existing and older series high-denomination banknotes is effective from midnight of November 8, 2016, with limited transitional exceptions permitting exchange at international airports and by foreign tourists for small-value holdings until November 11, 2016; Authorised Persons must implement and notify constituents, and the directions are issued under FEMA provisions without prejudice to other legal permissions.
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