DEPOSIT OVER 5 THOUSAND NOT ALLOWED: RBI NEW RULE

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RBI Said From 19th December No One Can Deposit Over 5000

Thinking of 8th November decision gives goosebumps to every Indian citizen as on that day Prime Minister Narendra Modi announced demonetisation of Rs.500 and Rs.1000. But with this shocking declaration another announcement was made by Prime Minister Narendra Modi and that is you can deposit old currency in your account till 30th December.

This announcement gave relief to people having old currency in huge number with them as they can use their money by depositing it in their accounts. Then another announcement came from RBI that is of more than 5000 can’t be deposited in an account till December 30th and this was more shocking than the announcement of demonetisation.    

In a notification the central bank said ““The (depositor’s) clarification should be kept on record to facilitate an audit trail at a later phase.” On respect to this declaration of RBI Finance Minister Mr. Arun Jaitley said “If they are going to go everyday and deposit some currency, same person, that gives rise to suspicion. In that event, a person may have something to worry about. Therefore everyone is advised whatever old currency you have, please go and deposit it as soon as you can.”

The reason behind this announce is very clear as people were depositing others black money in their accounts and for that they were visiting bank again and again. This was increasing the queue in the banks and genuine people were suffering for that. Well those who have genuine money in old currency should not get worried about all these announcements but those who still have black money in stock it is a matter to think about for them.

Everyday a new announcement and every declaration is coming up with a new twist and turn for Indian citizens. It just time to watch out how efficiently the demonetisation scheme is working on whitewashing black money and corruption from the country?     

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