https://www.taxtmi.com/news?id=17446 Cancellation of the legal tender status of specified high denomination banknotes was effected to disrupt cash based concealment of unaccounted wealth and to stem circulation of counterfeit currency; the Central Government, on the Reserve Bank's recommendation, exercised powers under sub section (2) of section 26 of the Reserve Bank of India Act, 1934 to withdraw the legal tender character of the Specified Bank Notes, and returned notes were routed to RBI currency chests with banks reporting deposits. en-us Tue, 07 Feb 2017 17:10:54 +0530 Tue, 07 Feb 2017 17:10:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17446 Cancellation of the legal tender status of specified high denomination banknotes was effected to disrupt cash based concealment of unaccounted wealth and to stem circulation of counterfeit currency; the Central Government, on the Reserve Bank's recommendation, exercised powers under sub section (2) of section 26 of the Reserve Bank of India Act, 1934 to withdraw the legal tender character of the Specified Bank Notes, and returned notes were routed to RBI currency chests with banks reporting deposits. News - Tue, 07 Feb 2017 17:10:54 +0530 https://www.taxtmi.com/news?id=17446