RBI Instructions to Post Office/Bank Branches on Deposit Old currency notes into banks on 31Dec2016

Important : RBI Instructions to Post Office/Bank Branches on Deposit Old currency notes into banks on 31Dec2016

Closure of the scheme of exchange of Specified Bank Notes(SBN) at banks on December 30th 2016

In continuation of trailing mails, please find attached the RBI notification no. DCM (Plg) No.2103/10.27.00/2016-17 dated December 30, 2016 regarding closure of the scheme of exchange of Specified Bank Notes (SBNs) at banks on December 30th 2016. In this connection, following instructions are issued:

1. All Circle/Regional Level control rooms to continue till further orders. 

2. With the closure of the facility of deposit of SBNs (WOS banknotes) as at the close of business on December 30, 2016, all Circles should submit a consolidated report (from 10.11.2016 to 30.12.206)in Annexure 3D in addition to the daily reports of today (30.12.2016), to control Room Directorate.

3. The Post Offices which are linked to the Bank Branches having currency chest should deposit SBNs/WOS banknotes by December 31, 2016.

4. SBNs (WOS banknotes) cannot form part of Post Offices cash balances from the close of business as on December 31, 2016.

5. Necessary action may be taken to deposit WOS banknotes today itself in linked banks.

With regards,

Sachin Kishore

Director (CBS)