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Arun Jaitley introduces demonetisation bill in Lok Sabha

Union Finance Minister Arun Jaitley on Friday introduced Specified Bank Notes (Cessation of Liabilities) Bill, 2017 in the Lok Sabha…

Arun Jaitley introduces demonetisation bill in Lok Sabha

Representational image (Photo: SNS)

Union Finance Minister Arun Jaitley on Friday introduced Specified Bank Notes (Cessation of Liabilities) Bill, 2017 in the Lok Sabha to formally make the banning of Rs.500 and Rs.1,000 notes a law.

“FM Arun Jaitley introduces in LS Bill for cessation of govt liability on demonetised currency notes,” media reports stated.

Trinamool Congress opposed the Bill but the opposition was overruled by the chair. The Bill would replace the note ban Ordinance.

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The note ban Ordinance was approved by President Pranab Mukherjee on December 30 which made it illegal to hold, transfer or receive Rs.500 and Rs.1,000 notes.

According to reports, the BJP had asked all its MPs to be present in the Lok Sabha on Friday.

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