Reserve Bank of India withdraw his previous order regarding deposit of old notes in which RBI instructed that amount exceeding 5000/- can be deposited at once in the accounts of individual up to 30th December, 2016.
Here is the notification;
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification
RBI/2016-17/191
DCM (Plg) No. 1911/10.27.00/2016-17
December 21, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks
Dear Sir,
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts- Modification
Please refer to our circular DCM (Plg) No. 1859/10.27.00/2016-17 dated December 19, 2016. On a review of the above, we advise that the provisions of the above circular at sub para (i) and (ii) will not apply to fully KYC compliant accounts.
2. Please acknowledge receipt.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
Source : https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI191FB7BA1C89F554D30985110CFCC347932.PDF
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