The High Denomination Bank Notes (Demonetisation) Act, 1978
Act No. 11 of 1978
[30th March, 1978.]
An Act to provide in the public interest for the demonetisation of certain high denomination bank notes and for matters connected therewith or incidental thereto.
WHEREAS the availability of high denomination bank notes facilitates the illicit transfer of money for financing transactions which are harmful to the national economy or which are for illegal purposes and it is therefore necessary in the public interest to demonetise high denomination bank notes;
BE it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows: