Deposit of Old Notes in Small Savings Scheme
MINISTRY of Finance has received references from Banks whether currency notes of Rs.500 and Rs.1000, discontinued with effect from 9.11.2016, can be deposited in accounts opened under small savings schemes.
Government has decided that subscribers of Small Savings Schemes may not be allowed to deposit old currency note of Rs.500 and Rs.1000, in Small Savings Schemes.
Government wants this to be complied strictly.