Mumbai: The Reserve Bank of India may allow deposit and exchange of discarded Old High Denomination currency notes in bank accounts. However, exchange facility at banks would be for limited amount of money, Hindustan Times reported on Thursday.
“If allowed, deposits would only be for smaller sums to ensure that the window, which will be for a limited period, was not misused,” HT quoted sources as saying.
The decision most probably would be taken after the central bank received in bulk requests and queries from citizens who for some reasons failed to surrender scrapped currency notes.
The amounts are as small as Rs 2,000… the issue is being looked into and the advice would be to hold on to those notes as we are examining (opening) another window for these genuine people, the report said.
Many queries that the RBI received were about currency notes that people found tucked away somewhere in their house and that they discovered on a later date than December 30.
