Withdrawal of legal tender: exchange and deposit of specified old banknotes restricted with KYC based deposit and withdrawal limits.
Withdrawal of legal tender status for existing Rs. 500 and Rs. 1000 notes (Specified Bank Notes) prohibits their use for transactions; equivalent value may be exchanged or credited via RBI offices, authorised bank branches or post offices subject to KYC, deposit/withdrawal ceilings, reporting obligations and limits on non KYC accounts. Over the counter cash exchange was curtailed, ATMs were recalibrated with interim dispensing limits, and special operational measures were provided for farmers, PMJDY accounts, wedding withdrawals, digital payment facilitation, and Small Savings deposit restrictions.

Digital payment incentive schemes award consumers and merchants for eligible small electronic transactions to boost cashless adoption.
NITI Aayog launched two incentive schemes-Lucky Grahak Yojana (consumers) and Digi- Vyapar Yojana (merchants)-to promote digital payments by awarding periodic and mega prizes for eligible electronic transactions using UPI, USSD, AEPS and RuPay cards. Eligible transactions are limited to Rs. 50-3,000 and include consumer to merchant, consumer to government and AEPS transactions; private credit cards and digital wallets are excluded. Winners are chosen by random draws of transaction IDs via audited software, and the initiative targets financial inclusion for low technology and rural users.

Ease of Doing Business reforms accelerate investment attraction and structural economic reforms to boost manufacturing and infrastructure.
The address sets out a reform agenda to bolster ease of doing business through digitisation, licensing rationalisation, single window interfaces, investor facilitation and Centre-State collaboration; it highlights the constitutional GST amendment, FDI liberalisation and Make in India-driven manufacturing expansion. Institutional reforms include the Insolvency and Bankruptcy Code, new commercial courts and arbitration amendments to speed dispute resolution, supported by a National IPR policy, Startup and Skill India initiatives, and infrastructure financing via the National Investment and Infrastructure Fund to attract investment and upgrade logistics.

Money laundering scrutiny: intelligence led bank record enquiries target suspect deposit patterns after demonetisation.
Enforcement authorities launched an intelligence led enquiry of records at over fifty bank branches to detect potential money laundering and hawala operations by scrutinising post-demonetisation transaction records and account statements, using Suspicious Transaction Reports and Cash Transaction Reports and conducting audits while seeking to avoid disruption of normal banking services.

Withdrawal of legal tender prompts exchange/deposit procedures, cash withdrawal limits, and specific essential service exceptions.
Withdrawal of legal tender status for specified banknotes (Rs. 500 and Rs. 1000) removes their transactional acceptability and provides that SBNs may be deposited at banks, RBI offices and post offices or exchanged at designated RBI offices; over the counter exchange is discontinued, deposits into loan/deposit accounts are allowed subject to reporting and identification requirements, and a regime of cash withdrawal limits, special exemptions for essential and agricultural services, temporary wedding withdrawals subject to KYC and evidentiary conditions, and enhanced digital payment and PPI measures has been implemented.

Withdrawal limits for PMJDY accounts set; KYC status affects permitted monthly withdrawals and further disbursements require verification.
Regulatory guidance places precautionary operational limits on PMJDY accounts funded through deposits of Specified Bank Notes after November 09, 2016 to guard against money laundering and benami transaction risks. Banks must distinguish account holders by KYC status: fully KYC compliant holders may withdraw up to a specified monthly cap from SBN-funded amounts with further withdrawals permitted only after verification and documented genuineness; limited or non-KYC holders face a lower monthly cap within an overall PMJDY ceiling.

Tax measures on post-demonetisation deposits impose heavy taxation and phased refunds for voluntary disclosures.
The amendment targets deposits made after demonetisation by imposing heavy taxation and penalties on illegal currency conversion, while establishing a taxed voluntary disclosure regime that provides an immediate partial refund and a deferred refund after a fixed period; the measures operate as deterrence and recovery mechanisms.

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.