New Delhi: One more diktat is here to make your life miserable. Now bank two officials will question you when you will visit a bank to deposit money in your account, especially if the amount is more than Rs 5,000. The officials will ask you why you had not deposited the money earlier. This restriction will be in force till December 30.
If you have old Rs 500 and Rs 1000 notes at home and you want to deposit it now, then you are in for trouble as RBI has introduced following new rules
1. Notes in excess of Rs 5000 will be deposited into bank accounts only once till December 30, 2016.
2.Such money will be credited into the bank account only after the depositor has been questioned by two banking officials.
3. The depositor will be asked to explain as to why this money wasn't deposited earlier and only after receiving a satisfactory explanation will such money be accepted.
4. Depositor of old notes up to Rs 5000 in value received across the counter will allowed to be credited to bank accounts in the normal course until December 30, 2016.
5.Even when deposits smaller than Rs 5000 are made in an account and such money taken together on cumulative basis exceeds Rs 5000, then they may be subject to the procedure to be followed in case of deposits above Rs 5000, with no more deposits being allowed thereafter until December 30, 2016.
6. These restrictions shall not apply to deposits of old notes for the purpose of deposits under the Taxation and Investment Regime for the Pradhan Mantri Garib Kalyan Yojana, 2016.