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Old 12-20-2016, 10:22 PM
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megri megri is offline
Join Date: Dec 2004
Location: Chandigarh India
Posts: 1,396
Default India launches fresh restrictions on deposits of demonetized notes

The Reserve Bank of India (RBI) has introduced a fresh set of restrictions on cash deposits of demonetized notes adding to further confusion among consumers in India.

According to the new set of rules, individuals will be able to deposit bank notes above INR 5,000 ($74) only once until the official deadline of December 30. This can however only be done after an explanation to two bank officials as to why this was not deposited earlier. The deposit will then be made only after the bank officials merit it as a satisfactory explanation.

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