New Delhi: The Finance Ministry on Friday clarified that the exchange of old 500 and 1000 rupee notes for new currency will continue. This comes after there were reports of government considering to bring the exchange of old currency notes of Rs 500 and Rs 1000 to a complete halt.
The Finance Ministry refused the reports and said the govt said it does not want to send any signal which may set in panic among the public.
“The government does not want to send any signal which may set in panic among the public,” sources said.
The decision of demonetising Rs 500 and Rs 1000 currency notes announced by Prime Minister Narendra Modi has received several revisions following the ruckus and chaos which was seen outside the banks and ATMs after the decision was made public on November 8.
Earlier, the currency exchange value was limited to Rs 4,500 which was then cut short to Rs 2,000.
First Published | 18 November 2016 5:07 PM