Deposit

Demonetisation Update: Things you need to know about depositing old notes in banks

Last date

  • Last date to deposit old notes is Dec 30

 

Restrictionsa

  • Old notes above value of Rs.5000 can be deposited only once before Dec 30.

 

 

Magnify

  • Deposit of old notes above value of Rs.5000 will be subject to audit and taken on record. A satisfactory explanation will be required during such deposit.

 

scrutiny

  • Deposits made in small amounts above value of Rs.5000 via old notes will be subject to scrutiny

 

Regulations

  • Only KYC compliant bank accounts will be credited with full value of deposits made above Rs.5000. Non complaint accounts will be restricted to credits limiting upto Rs.50,000

 

Exempt

  • The regulations are exempt for deposits under Taxation and Investment Regime for the Pradhan Mantri Kalyan Yojana, 2016

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