RBIs circular to all banks
Posted on: 30/Dec/2016 5:48:27 PM
The Reserve Bank of India has insisted that the quantity of the notes of Rs. 500 and Rs. 1000 deposited as per the deadline of the last date, the evening of 30th December.
In a circular sent to all banks, RBI has instructed that suitable arrangements must have been made to collect data from all the branches and also the transportation of the collected currency notes.
RBI has also emphasised that all the notes collected as on 30th December should be handed over to RBI by the next day itself.
The demonetized currency notes value must not be included in the cash-on-hand status of the banks.
At the same time, the State Cooperative Banks can keep the demonetized Rs. 500 and Rs. 1000 notes collected as the deposit from 10th November till 14th November till further announcement from RBI.
