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Govt ordered Banks, Post Offices to Deposit Old Notes with RBI

Government ordered Banks and Post Offices to Deposit Old 500 and 1000 Rs Notes with RBI Before July 20.

Govt ordered Banks, Post Offices to Deposit Old Notes with RBI.

Banks can Deposit Old Notes before July 20 with RBI

The Government has given the banks, commercial banks and workplaces of the regions the last opportunity to store restricted notes Rs 500 and Rs 1000 with the Reserve Bank by July 20 if they were gathered together, Within the predetermined day and age.

After the November 8 declaration of smothered demonetization, the administration allowed commercial banks and workplace stations to recognize the money destroyed by people generally until December 30th. Long-range focal banks were allowed to recognize them until 14 November.

Post Offices can deposit Demonetized Notes with RBI

Govt ordered Banks, Post Offices to Deposit Old Notes with RBI
Govt ordered Banks, Post Offices to Deposit Old Notes with RBI

The fund’s service, with a warning today, allowed banks and workplaces to publish any old notes destroyed with RBI within a month, if they were gathered before December 30, 2016. A similar window would also be accessible to useful banks on the randomly they had collected the restricted notes before November 14.

The Legislature has given the banks, commercial banks and post offices of the regions the last opportunity to store restricted notes Rs 500 and Rs 1000 with the Reserve Bank by July 20 if they were gathered together, Within the predetermined day and age.

After the November 8 declaration of smothered demonetization, the administration allowed commercial banks and workplace stations to recognize the money destroyed by people generally until December 30th. Long-range focal banks were allowed to recognize them until 14 November.

The fund’s service, with a warning today, allowed banks and workplaces to publish any old notes destroyed with RBI within a month, if they were gathered before December 30, 2016. A similar window would also be accessible to useful banks on the randomly they had collected the restricted notes before November 14.

Last chance to Banks and Post Offices to Deposit with RBI

The previous window was open until December 31, and after a certain time of de-moneying high-esteem money.

Banks and workstations will nevertheless have to aim at not keeping the back notes removed with the predefined day and age “according to the general inclination of the RBI

After demonetization, the govt gave the holders of the destroyed money a window of 50 days to store it in their bank or post accounts by December 30.

In any event, attractive banks were expelled on 14 November to tolerate the banknotes destroyed as stores or exchange them with new money.

This remains useful, keeping money with invalid banknotes. As reported by a current report, local and focal banks in Maharashtra alone are falling through Rs 2,770 crore worth of old notes they collected at the start of demonetisation but could not store them with RBI .

This has led to a slowdown in the Maharashtra government’s plan to distribute Rs 10,000 to disrupt herders.

Some pioneers, including the Sharp Pawar of NCP, and those of Shiv Sena spoke to the administration to allow the useful banks to negotiate old notes.

Final Chance to Banks and post Offices to Deposit Old Notes with RBI

Help has finally arrived.

In the notice, the service stated that “predetermined monetary orders could be held by a Bank, Post Office or Central Cooperative Bank in all Reserve Bank offices within 30 days Start guidelines, and get their business interest by credit “to their record.

While the effortless working time for the occupying Indians to store the canceled silver tickets expired on March 31, non-residents Indians have the time until June 30 to store these monetary standards.

RBI will recognize that stores collected by a bank or mailing station by December 30, 2016 or by a Central District Co-operative Bank from November 10 to 14, 2016 should be saved within 30 days, said the warning.

They should also refer to legitimate purposes behind certified deposits predefined within the period including.

The Old Rs 500 and Rs 1000 currency were ransacked on November 8, 2016 to dispense with dark money and soaked and false dollar notes (FICN).

India is the second largest manufacturer and buyer of treasury bills. The spread of banknotes has grown to 90.27 billion pieces of 64.58 billion in the past five years.

As of November 8, 2016, the aggregate amount available for use was 17.7 lakh crore, which included SBNs of Rs 500 and Rs 1,000.

According to the last management control issued by RBI on December 13, banks had earned Rs 12.44 lakh crore in banned tickets until December 10.

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