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No questions if aged records deposited in one go: Arun Jaitley
- Updated: December 20, 2016
Arun Jaitley during a press discussion during New Delhi yesterday. Pic/PTI
New Delhi: Following RBI’s proclamation of stricter manners for depositing demonetised currency, Finance Minister Arun Jaitley has simplified that no questions will be asked if any volume of aged banking is deposited in one go, though steady deposits might incite queries.
“If they go and deposition with bank any volume of banking no questions are going to be asked to them and therefore a 5000 rupee extent does not request to them if they go and deposition it once,” Jaitley told reporters here on Monday night, after a Reserve Bank of India announced progressing in a day that deposits of aged Rs 500 and Rs 1,000 records in additional of Rs 5,000 will now be authorised usually once compartment Dec 30 — that too after despotic scrutiny.
“But if they are going to go bland and deposition some currency, same person, that gives arise to guess that where is he appropriation this banking from. In that eventuality a chairman might have something to worry about. Therefore everybody is suggested whatever aged banking we have greatfully go and deposition it now,” he said.
The Finance Minister pronounced that given all exemptions to certain sectors and utilities, that had been authorised to accept a criminialized banking post demonetisation, finished final week, those in possession of a aged records are ostensible to deposition them with banks. “Anyone who has aged banking records is not authorised to trade in them. He can usually go and deposition them with banks,” he said.
Earlier on Monday, a RBI pronounced when a chairman deposits over Rs 5,000 in cold currencies, afterwards credit shall be given to that person’s comment usually after doubt him or her, in a participation of dual bank officials, as to because a records were not deposited earlier. The bankers will keep a exegetic matter on record for destiny review trail.
Deposits of Rs 500 and Rs 1,000 records adult to Rs 5,000 in value perceived opposite a opposite will be authorised to be credited to bank accounts in a normal march until Dec 30. But if a deposits are reduction than Rs 5,000 during a time though cumulatively a value exceeds Rs 5,000, afterwards a bank officials have to follow a procession of removing on record a reason from a depositor because a deposition was not done earlier.
These restrictions do not request to deposits underneath a Taxation and Investment Regime for a Pradhan Mantri Garib Kalyan Yojana. The supervision demonetised a high value banking records on Nov 8, in a pierce to fight a problems of black money, tawdry banking and apprehension financing.