Withdrawal of legal tender status for specified high denomination notes limits cash use and mandates bank deposit or exchange.
The legal tender character of certain high denomination banknotes has been withdrawn; these Specified Bank Notes (SBN) cannot be used for transactions and must be deposited at bank branches or exchanged at designated Reserve Bank offices. Over the counter cash exchange was discontinued from a specified date; deposits into accounts and exchange at RBI offices continue. The scheme sets weekly cash withdrawal limits for individuals and enhanced limits for eligible business and agricultural accounts subject to KYC and account vintage, allows time bound higher withdrawals for specified exigencies with documentary proof, and mandates reporting and identity requirements for large cash deposits.

Demonetisation precedent may reshape governance norms and depends on administrative execution, secrecy, and public cooperation.
The article treats demonetisation as a high-risk regulatory action that will create a precedent irrespective of success, contingent on confidential implementation, administrative execution capacity, and public cooperation; it can disrupt corruption and the shadow economy but cannot resolve underlying social and political causes.

Withdrawal of legal tender requires exchange of specified old notes for limited cash or bank credit via banks.
Specified high-denomination bank notes have had their legal tender character withdrawn and may no longer be used for transactions; they can be exchanged or deposited at RBI issue offices, commercial/region al rural/co-operative bank branches and designated post offices. Cash exchange at counters is subject to a limited per-person ceiling while amounts above that are credited to bank accounts. Banks must enforce one-time exchange identification marks, KYC requirements for deposits and transfers, submit applicable CTR/STR reports for large cash deposits, and follow prescribed procedural and documentary conditions for special disbursements and exemptions.

Demonetisation support strong in app survey; overwhelming public endorsement and high ratings for anti corruption measures.
A government hosted app survey recorded overwhelming public endorsement of the demonetisation of old high denomination notes, with over half a million respondents in about 24 hours rating the policy and the government's efforts to tackle black money and corruption highly; the feedback also suggested many believe some anti corruption activists now support corrupt practices and illicit financing.

Automatic Exchange of Information expands bilateral financial transparency, enabling routine sharing of resident account financial data.
A bilateral 'Joint Declaration' was signed to implement Automatic Exchange of Information (AEOI) between India and Switzerland, creating a routine mechanism for Swiss authorities to transmit financial-account information of Indian residents to India for the applicable reporting periods, thereby enhancing cross-border financial transparency and supporting tax compliance.

Demonetisation public consultation sought; government invites views on cessation of certain currency as legal tender
Demonetisation and cessation of specified currency as legal tender are presented to the public via a ten-question survey seeking views on black money, corruption, terrorism, and policy effectiveness. The survey gathers both ranked and categorical responses plus open suggestions, expressly soliciting feedback on implementation challenges and ideas to strengthen enforcement, thereby using participative governance to inform currency policy reform and anti-corruption measures.

Withdrawal of legal tender: specified high denomination notes must be exchanged or deposited, with limits and identity verification.
Withdrawal of legal tender status for specified high denomination banknotes prohibits their use for transactions and establishes exchange and deposit routes at RBI issue offices, bank branches and post offices; limited over the counter cash exchange is allowed once with indelible ink marking, with excess amounts credited to bank accounts, acceptance of pre 2005 notes, reporting and identity requirements for deposits and loans, and permitted use of specified notes for defined essential services and tourist exchange under conditions.

Cash withdrawal limits expanded for farmers and traders while over-the-counter exchange caps reduced and salary advance allowed.
The Government authorised targeted cash access from KYC compliant accounts to support agriculture and mandi liquidity: farmers and KCC holders may withdraw weekly cash amounts; APMC-registered traders receive higher weekly cash withdrawals comparable to business entities to cover wages and operations. The deadline for crop insurance premium payment is extended briefly. Wedding-related cash may be withdrawn by a single KYC-compliant family member subject to PAN and self-declaration. Over-the-counter exchange of demonetised notes is reduced to a single, lower per-person limit. A one-time salary advance in cash was allowed for specified Central employees.

Indelible ink marking to prevent syndicates exchanging defunct currency, with banks and task forces monitoring suspicious deposits.
Government directed banks to apply indelible ink marks on customers exchanging defunct currency notes to prevent syndicates and repeated branch visits for multiple exchanges. This branch-level control is paired with a high-powered group under the Cabinet Secretary to monitor supply disruptions and a task force to track fake currency circulation and suspicious deposits, including activity in Jan Dhan accounts, combining operational disbursement checks with inter-agency oversight to detect and deter organised misuse.

Withdrawal of legal tender forces exchange through banks with cash limits and electronic credit options.
Withdrawal of legal tender character applies to specified bank notes of Rs.500 and Rs.1000 issued until 8 November 2016; these notes can be exchanged at RBI issue offices, bank branches and post offices, with cash disbursal subject to a per person ceiling and any excess credited to a bank account. Identification and KYC are required; representatives may act by written mandate. Deposit into accounts and use of deposit machines and electronic payment systems are permitted, deposits/loan account credits are allowed with reporting obligations, and the exchange scheme closes on 30 December 2016 with limited follow up facilities at designated RBI offices.

Cash holding limits and enhanced reporting to prevent conversion and reaccumulation of illicit cash through bank deposits and facilitators.
Banks should report large or atypical cash deposits and deposits in accounts inconsistent with an account's historical activity to tax or financial intelligence authorities for analysis against known sources of income, with penalty and prosecution where deposits exceed legitimate income; deposits made by intermediaries and jewelers' cash receipts should be correlated with buyers' tax identifiers and analyzed against known income. Implementing cash holding limits and limits on cash transactions, together with undisclosed reporting thresholds, is recommended to prevent reaccumulation of illicit cash and structuring.

Demonetization reduces black money and inflation by formalizing transactions through the banking system and transparency.
Demonetization is described as a policy tool to reduce black money and curb inflation by shifting transactions into the banking system to increase transparency. NITI Aayog is portrayed as the Government's think tank strengthening cooperative federalism through consultations, best practice dissemination, and a 15 year vision, 7 year strategy and 3 year action plan, with sub groups and task forces advising on scheme rationalization, skill development, sanitation, poverty elimination, agriculture, land leasing, labour and medical reforms, and initiatives to boost innovation and higher education quality.

Demonetisation declared illegal tender, prompting banks to reconfigure ATMs and prioritise distribution of smaller denomination notes.
Demonetisation declared illegal tender led the bank to mobilise logistics to make adequate Rs. 100 notes available across its ATMs, branches and CDMs within two days, while advising customers they may deposit the demonetised high-denomination notes into accounts. Reconfiguration of ATMs to dispense newly specified denominations cannot be completed immediately and will take time, causing temporary interruptions to ATM and counter services amid heightened public demand.

Tax treatment of demonetised cash: deposits lack immunity and source must be disclosed; illegal funds face scrutiny.
Deposits of demonetised high denomination currency into bank accounts do not confer tax immunity; the law applies to the source of such funds. Legitimate, previously disclosed savings need not worry, but illegal proceeds, crime money or bribes will face disclosure requirements and enforcement. The deposit route enables exchange for new notes but is not relief from taxation; the policy aims to increase tax compliance, digital transactions, and the formalisation of the economy.

Demonetisation of high denomination notes removes legal tender status and prescribes exchange, deposit and withdrawal procedures.
Discontinuation of legal tender status for specified high denomination banknotes invalidates those notes for general payments and creates a structured regime for exchange, deposit and withdrawal through designated central bank offices, bank branches and post offices subject to identity and documentation; small over the counter exchanges are allowed while larger amounts must be credited to bank accounts, with limited exceptions for essential services and foreign tourist exchange.

Withdrawal of legal tender: high denomination notes cease to be legal tender; exchange permitted at banks/RBI subject to cash limits.
The notification withdraws the legal tender character of specified high denomination banknotes and permits exchange at RBI issue offices, bank branches and designated post offices; cash payment is limited per person while amounts exceeding that ceiling are to be credited to bank accounts. Banks will accept deposits including via cash deposit machines and recyclers; electronic payment channels are encouraged. Representatives may tender notes with written authorization and valid identity proof. A time limited exchange window is established with a subsequent RBI facility for late exchanges subject to documentation.

Withdrawal of legal tender status requires exchange or deposit of affected banknotes under prescribed identity, deposit and cash withdrawal limits.
Withdrawal of legal tender status for specified banknotes requires holders to tender them at Reserve Bank offices or bank branches for credit or limited over the counter exchange on production of valid identity; credited funds may be used by cheque or electronic transfer while cash withdrawals and ATM dispensation are temporarily subject to prescribed daily and weekly limits, with ATMs recalibrated and an extended facility for late deposits to be provided at designated Reserve Bank locations.

Withdrawal of legal tender for specified high denomination notes triggers deposit and limited cash exchange regime with withdrawal and ATM restrictions.
Withdrawal of Legal Tender status for specified high-denomination Mahatma Gandhi series banknotes permits holders to tender such notes at Reserve Bank offices or bank branches for value credited to bank accounts, with a limited over-the-counter cash exchange available upon presentation of valid identity. Credits may be used by cheque or electronic transfer; cash withdrawals and ATM disbursements are subject to temporary quantitative restrictions pending recalibration. The public is referred to official RBI and government websites for details.

Currency demonetisation: high-denomination notes withdrawn as legal tender with structured deposit, exchange and withdrawal rules.
Announcement withdraws specified high-denomination banknotes as legal tender from midnight 8 November 2016 and establishes an administrative regime for conversion: a timed deposit window at banks and post offices, limited immediate exchange counters requiring approved identity proofs, a later deposit facility at specified Reserve Bank offices with declaration, staged ATM and withdrawal limits, temporary humanitarian acceptance at designated public services for a short period, and issuance of redesigned notes by the Reserve Bank with a policy to limit the share of high-denomination currency.

Demonetisation of high-denomination currency notes; new denominations issued and deposit limits, cash withdrawals restricted temporarily.
The Government withdrew legal tender status for specified high-denomination notes, issued new denominations including a new high-denomination note, and provided a limited window to deposit or exchange withdrawn notes through banks and post offices while imposing short-term ATM and bank withdrawal limits; limited humanitarian acceptance of withdrawn notes at specified public service points is permitted and non-cash payment methods remain unrestricted.