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Video | Finance Minister withdraws exemptions on trade of old notes; deposit Rs 500, Rs 1,000 notes till Dec 30

Business Owners, Who Were Trading On The Old Notes Till Now, Will Now Only Be Able To Deposit Defunct Currency Notes Between Tuesday And December 30 Without Any Questions Asked At The Bank.

News Nation Bureau | Edited By : Arshi Aggarwal | Updated on: 19 Dec 2016, 11:35:02 PM

New Delhi:

Finance Minister Arun Jaitley on Monday announced that all exemptions of the trading of old currency notes demonetised by the Narendra Modi government have been waived off.

Business owners, who were trading on the old notes till now, will now only be able to deposit defunct currency notes between Tuesday and December 30 without any questions asked at the bank. 

“Please go and deposit old currency you have because there is no scope now for earning any old currency because all exemptions waived off,” the finance minister urged in a press address on Monday night.

He further informed traders that if they go and deposit with the bank any amount of currency, no questions are going to be asked to them.

He added, “Rs 5000 deposit limit announced earlier in the day does not apply to traders , if they go and deposit once.But if same person is going to deposit every day, that gives rise to suspicion,” Jaitley announced.

Also read:

Pre-2005 notes of Rs 500, Rs 1,000 can still be deposited at banks: RBI

All transaction above Rs 5000 to be made via e-payment: Finance Ministry

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First Published : 19 Dec 2016, 09:47:00 PM