In a few weeks, the new Rs 500 and Rs 1,000 notes will be withdrawn from circulation.
The Government has already introduced an emergency limit of Rs 500,000 in the country and Rs 10,000 crore in banks.
The banknotes are now in the possession of the Government.
There are currently 5.5 lakh crore currency notes in circulation, out of which Rs 1.4 lakh crore are in the banknotes.
In the meantime, it is not possible to store any currency note for more than 24 hours in a vault.
The Reserve Bank of India has already announced that it is ready to set up an ATM and cash dispenser for the circulation of currency notes.
But what should you do if you want to deposit currency notes?
Here are five things you should know before depositing money.1.
When you deposit your money, you have to provide the bank details of the person who will take care of it.
The person is usually a banker or a senior official of a bank.2.
When a banknotes is in the custody of the Reserve Bank, it cannot be used as a currency, except in cases of emergency.
The same is the case with a Rs 500 or Rs 1 a day note.3.
The RBI has no authority to set limits for cash withdrawals from banks.
In fact, the RBI has not issued any guidance regarding the limits.
But, it does have the authority to make rules regarding the maximum amount of cash that can be deposited into bank accounts.
The rules are available at:http://www.irs.gov.in/irbs/documents/finance-consult/irstats/pdf/rb-finance.pdf.4.
The notes are not considered as legal tender, but it is mandatory to pay the minimum amount required to obtain them from the RBI.
If you have not been able to get any cash for at least two days, you can deposit it in a bank account or the nearest ATM.
You will need to pay it within one to two days.
If it takes more than two days to pay, you will have to use your cash in the currency exchange offices.
The exchange offices will then return your currency to the bank account.5.
The amount of currency that can go in your bank account and the amount that you can spend on your mobile phone will be regulated by the Reserve Banks of India.
You should make your purchases and transactions in cash or in the most expensive currency that you have.
The Government is also encouraging people to use debit cards to store cash and to make payments to certain organisations.
But it is important to note that this can only be done in cash.
If your bank is not accepting the cash, you should not take any further action.