Can Deposit Old Notes Worth 5,000-Plus Only Once Till Dec 30: Government | Read

PUBLISHED ON: December 19, 2016 | Duration: 4 min, 04 sec

  
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The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 and 1,000-rupee notes can be made in a bank account only once from today till December 30, the deadline for depositing old notes. The Finance Ministry said any deposit of over Rs. 5,000 will be subject to questioning by two bank officials, who have to be given a "satisfactory explanation" on why the old notes were not deposited earlier. The government has said the explanation should be kept on-record in case of scrutiny at a later stage.
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