The Centre is likely to bring an ordinance on Wednesday to impose penalties for keeping old notes beyond a certain limit.
With two days to go for December 30 deadline to deposit demonetised notes of Rs 500/1000, the Centre on Wednesday approved an ordinance that imposes penalties for possessing old notes beyond a certain limit and indulging in transactions with junked notes of Rs 500 and 1000.
According to the ordinance anyone possessing old notes post March 31, 2017 will have to face 4-year jail term and those involved in transactions have to pay a penalty of 5000 rupees.
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