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3. High denomination bank notes to cease to be legal tender.

On the expiry of the 16th day of January, 1978, all high denomination bank notes shall, notwithstanding anything contained in section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), cease to be legal tender in payment or on account at any place.



High Denomination Bank Notes (Demonetisation) Act, 1978 Back




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