Demonetization of higher denomination currency of 500 & 1000 notes has become a sensation in India. Citizens of India are clueless because they are unable to understand what’s going on around them. But Narendra Modi government is taking new steps from time to time and throwing surprises at the people. Latest surprise from the government is ordinance on old currency.
If anybody has demonetized currency with them, legal action will be taken against them. This move is targeted at those who are still having the old currency. It is known that Central Government announced a deadline for depositing old currency in banks till December 30. But the citizens have the facility of exchanging their old currency at the Reserve Bank of India by proving KYC details. They have this facility until March 31.
But government will take strict action if anybody has demonetized currency after Marh 31. On the other hand opposition parties are severely criticizing the government on this development. They are saying that Modi government is harassing the common public with this kind of ordinances but they are not supplying enough new currency. People are still suffering at the ATM centers due to lack of sufficient new currency. It seems the demonetization saga is never ending.. never before in Indian politics.