Arun Jaitley introduces Demonetisation Bill in Lok sabha

The Bill is to formally make the banning of Rs 500 and Rs 1,000 notes a law

Finance Minister Arun Jaitley on Friday introduced a Bill on demonetisation in the Lok Sabha to formally make the banning of Rs 500 and Rs 1,000 notes a law.

The Specified Bank Notes (Cessation of Liabilities) Bill, 2017, seeks to replace the ordinance on demonetisation promulgated by the government in December 2016.

The Bill was opposed by Trinamool Congress but the Opposition was overruled by the chair.