FlyerTalk Forums - View Single Post - CONSOLIDATED: 500 and 1000 rupee notes no longer legal tender!
Old Dec 29, 2016 | 2:47 am
  #168  
GUWonder
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The Indian PM has wanted to criminalize the possession of demonetized notes with a cumulative value of as little as $73 USD (as of this month). So this week he put in place an ordinance to do just that.

Any unauthorized private party who has more than 10 demonetized Rs 500 ($7.3) and/or Rs 1,000 ($14.6) currency notes after March 31 is subject to a penalty of a fine and/or being incarcerated for as long as four years.

The government is desperately trying to do whatever it can to limit the government's obligations with regard to the demonetized notes, and so this kind of radical move is made by the government too.

Tourists and others visiting India after March 31st could be in for major trouble if they happen to be caught and pursued to the fullest extent for ending up with or stumbling upon as few as 5000 rupees of demonetized notes.

The demonetization mess was reason enough for some to postpone/avoid travel plans for India during this season. And now with the criminal penalties applicable after March 31st, that may be another reason to get worried about visiting India even later.

Last edited by GUWonder; Dec 29, 2016 at 2:56 am
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