Source: CAG's Report No. 28/2016
Deposit of Old Notes in Small Savings Scheme - Post Offices not Barred
ON 22.11.2016, the Government had clarified 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. (Please see yesterday's DDT).
A day later, yesterday they have clarified that the deposits into Post Office Savings Account are excluded from the bar imposed.
Meanwhile RBI yesterday advised banks not to accept these currency notes for deposits in Small Saving Schemes. (RBI/2016-17/151 DCM (Plg) No.1351/10.27.00/2016-17., Dated November 23, 2016.)
Flip-flops have become the order of the day. Hope the CAG doesn't mind!