Old notes deposit: The Finance minister Arun Jaitley refurbished the demonetisation policy rules on Tuesday saying that all the old notes have to be deposited in one go from now on and the repeated deposits will not be allowed. Apart from the statement by the finance minister, the Reserve Bank of India also issued a statement mentioning the directives for the deposits of the old notes.
Confusion continues regarding the ‘old notes deposit’ across nation
However, still, the banks are not accepting any deposits in the old currency more than the amount of Rs 5000. This has caused great inconvenience to the general public as the closing date for the deposits id approaching near and on the other hand, the banks seem to have no update on the recent amendment.
Earlier as well, the bank union has brought the grave inconvenience caused to the masses and the banks to the notice of the government. However, the government seems to have turned a deaf ear to all its pleadings.
“Tenders of SBNs (specified bank notes) in excess of Rs 5,000 into a bank account will be received for credit only once during the remaining period till December 30, 2016. The credit in such cases shall be afforded only after questioning tenderer, on record, in the presence of at least two officials of the bank, as to why this could not be deposited earlier and receiving a satisfactory explanation. The explanation should be kept on record to facilitate an audit trail at a later stage. An appropriate flag also should be raised in CBS to that effect so that no more tenders are allowed.”
-The RBI notification
The move was aimed at reducing the hassle and the crowd at te banks, however, it seems to have aggravated the hassle.