SB Order No. 12/2016 : Withdrawal of Legal Tender Character of existing Rs 500/- and Rs 1,000/- banknotes

Withdrawal of Legal Tender Character of existing Rs 500/- and Rs 1,000/- banknotes - SB Order No. 12/2016

Sir / Madam

Kindly refer to SB order no. 12 dated 8.11.2016 and Gazette Notification No 10/3/2016-CY.1 dated 8th November 2016 issued by Government of India regarding accepting of WOS banknotes till close of 30th of December 2016. In this connection it is requested to kindly ensure that post offices will accept the WOS banknotes only upto 30th of December 2016.

 

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New Rules for Cash Deposits made between 9 November - 30 December 2016

New Rules for Cash Deposits made between 9 November - 30 December 2016

Gazette Notification No. S.O. 4086(E) in c/w Deposit of SBN/WOS Notes limited to Rs.5000/-

Gazette Notification No. S.O. 4086(E), in continuation of gazette notification No. S.O. 3407(E)

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Restriction on Deposit of WOS Notes into Post Office SB Account - Directorate Order

Subject: Restriction on Deposit of WOS Notes into SB Account 

        Kindly refer to the SB Order No. 12/2016 dated 08.11.2016 (Para No. 02 (iii) ) regarding deposits of WOS Notes. There is a partial modification in the acceptance of deposits of WOS notes. RBI vide their notification number RBI/2016-17/189 DCM (Plg) No. 1859/10.27.00/2016-17 dated 19.12.2016 has decided to place certain restrictions on deposit of SBNs (Specified Bank Note/WOS Notes) into the accounts by allowing deposits in excess of Rs. 5000/- will be received for credit only once during the period till December 30th, 2016. Copy of the RBI notification is attached herewith. 

It is requested to kindly issue necessary instructions to all concerned in this regard.

With regards,

Sachin Kishore

Director (CBS)

Sansad Marg,

Dak Bhavan

RBI Notifications