| The legal tender character of the bank notes in denominations of ₹ 500 and ₹ 1000 issued by the Reserve Bank of India was withdrawn with the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance 2016 (GoI Ordinance No. 10 of 2016 dated December 30, 2016). As a result, with effect from December 31, 2016, the Specified Bank Notes ceased to be the liabilities of the Reserve Bank of India and ceased to have the guarantee of the Central Government. |