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The RBI said that for depositing Rs 2,000 notes, customers can go to their bank and submit the money in their own accounts. There is no deposit limit but general KYC and other existing statutory norms for cash deposit will apply.
Petrol was pumped out of a two-wheeler after an attendant refused to accept Rs 2000 notes when offered by the customer
The Reserve Bank of India said people could visit bank branches from May 23 to exchange or deposit their Rs 2,000 notes.
RBI governor Shaktikanta Das had on Monday said people should not panic and rush to return or exchange their Rs 2,000 currency notes as they have four months to do so. Even after September 30, the notes would continue to be legal, he asserted
The Reserve Bank of India's decision to withdraw its highest denomination currency note from circulation is likely to improve banking system liquidity, bringing down recently elevated short term rates, analysts and bankers said.