December 30, 2016 5:56 PM

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RBI asks banks to report details of deposits of old notes post demonetization

RBI has asked banks to report details of deposits of old 500 and one thousand rupees notes post demonetization. Today was the last date to accept the invalid currency in the banks. In a notification, RBI has asked all lenders, including public, private, rural and cooperative banks to make arrangements to gather information on deposits of the Specified Bank Notes. RBI further said the old-high denomination notes cannot form part of banks cash balances from the close of business as on tomorrow. Banks maintaining currency chests have been asked to make necessary arrangements to facilitate the deposit of Specified Bank Notes received through linked branches or other branches of banks and post offices.

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