{"id":85711,"date":"2016-11-17T12:20:18","date_gmt":"2016-11-17T06:50:18","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=85711"},"modified":"2016-11-19T15:07:16","modified_gmt":"2016-11-19T09:37:16","slug":"demonetisation-expanding-distribution-locations-for-deposit-withdrawal-of-cash","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/17\/demonetisation-expanding-distribution-locations-for-deposit-withdrawal-of-cash\/","title":{"rendered":"Demonetisation: Expanding distribution locations for deposit &#038; withdrawal of cash"},"content":{"rendered":"<p style=\"text-align: justify;\">Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. With a view to widen the existing facilities to exchange\/deposit the specified bank notes and withdraw cash from their accounts, banks are advised to put in place the following additional measures so that member public enjoy as much convenience as possible in availing the facility.<\/p>\n<p style=\"text-align: justify;\"><strong>Additional Facilities<\/strong><\/p>\n<p style=\"text-align: justify;\">i. The current account holders (applicable to Current Accounts which are operational for last three months or more) are allowed to withdraw up to Rs 50,000 in a week. Such tenders will be disbursed predominantly in Rs 2000 denomination only.<\/p>\n<p style=\"text-align: justify;\">ii.Banks may deploy their Micro ATMs (Bala Mitras, etc) near village Panchayat Offices, Police Stations\/ Police and military Outposts, Government Departments, offices of Public Sector Units, Petrol Pumps and other similar secure locations. As it may entail larger volume of cash requirements, Banks may enhance the limits of the micro ATMs to at least Rs 50,000 and allow frequent replenishment of cash to them.<\/p>\n<p style=\"text-align: justify;\">iii.For providing exchange\/deposit\/withdrawal facility to people residing in remote\/unbanked areas, banks may consider using mobile vans.<\/p>\n<p style=\"text-align: justify;\">iv.Banks should, in a camp mode, open accounts for Tea\/coffee and other plantation workers, employees of Sugar cooperatives, dairy farms and such other worker groups with concentrated payment locations so that they may be better served in terms of deposit into accounts and withdrawal therefrom.<\/p>\n<p style=\"text-align: justify;\">v.We reiterate that in order to cope with the increased work load banks may consider hiring retired employees for a short period.<\/p>\n<p style=\"text-align: justify;\"><strong>Monitoring<\/strong><\/p>\n<p style=\"text-align: justify;\">vi.Banks have to ensure that the customers use separate pay-in-slips for depositing specified bank notes and other legal tender bank notes.(If a depositor has a mixed bunch of SBN and legal lender notes, he has to segregate them and submit two separate Pay-in slips). Banks have to put in place, within CBS, a mechanism to maintain a record of receipts of SBNs customer-wise and denomination wise whether for exchange or for deposit by way of a flag to facilitate subsequent verification.<\/p>\n<p style=\"text-align: right;\">Reserve Bank of India<\/p>\n<p style=\"text-align: right;\">[Notification dated November 14, 2016]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. With a view to widen the existing <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-85711","post","type-post","status-publish","format-standard","hentry","category-hot_off_the_press","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Demonetisation: Expanding distribution locations for deposit &amp; withdrawal of cash | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/17\/demonetisation-expanding-distribution-locations-for-deposit-withdrawal-of-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demonetisation: Expanding distribution locations for deposit &amp; withdrawal of cash\" \/>\n<meta property=\"og:description\" content=\"Please refer to our\u00a0Circular No. DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016\u00a0on the captioned subject. 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With a view to enable members of the public to perform and celebrate weddings of their wards it has been decided to allow higher limits of cash withdrawals from their bank deposit accounts to\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99861,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/01\/17\/withdrawal-limits-from-atms-and-current-accounts-enhanced\/","url_meta":{"origin":85711,"position":2},"title":"Withdrawal limits from ATMs and Current Accounts enhanced","author":"Saba","date":"January 17, 2017","format":false,"excerpt":"Enhancement of withdrawal limits from ATMs and Current Accounts Please refer to our circulars DCM (Plg) No. 1274, 1317, 1437 and 2142\/10.27.00\/2016-17 dated November 14, 21 and 28 and December 30, 2016, respectively, on the above subject. 2. On a review of limits placed on withdrawals from ATMs and current\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85991,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/16\/rbi-updated-faqs-on-withdrawal-of-specified-bank-notes\/","url_meta":{"origin":85711,"position":3},"title":"RBI: Updated FAQs on Withdrawal of Specified Bank Notes","author":"Saba","date":"November 16, 2016","format":false,"excerpt":"FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of Rs 500\/- and Rs 1000\/-\u00a0[Updated as on November 16, 2016] 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":293407,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/30\/delhi-high-court-upholds-rbi-notification-for-exchange-of-2000-denomination-banknotes-legal-news\/","url_meta":{"origin":85711,"position":4},"title":"Not demonetisation but withdrawal of Rs. 2000 denomination banknotes from circulation; Delhi High Court dismisses PIL seeking RBI notification arbitrary","author":"Arunima","date":"May 30, 2023","format":false,"excerpt":"Delhi High Court noted that the present decision of the Government to dispense with Rs. 2000 denomination banknotes is not a decision towards demonetisation.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"delhi high court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/delhi-high-court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/delhi-high-court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/delhi-high-court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/delhi-high-court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":93721,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/20\/amounts-in-excess-of-rs-5000-in-old-notes-can-be-deposited-only-once-between-19th-and-30th-december-2016\/","url_meta":{"origin":85711,"position":5},"title":"Amounts in excess of Rs 5000 in old notes can be deposited only once between 19th and 30th December, 2016","author":"Saba","date":"December 20, 2016","format":false,"excerpt":"Withdrawal of Legal Tender Character of existing Rs 500\/- and Rs 1000\/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts Please refer to Circular DCM (Plg) No.1226\/10.27.00\/2016-17 dated November 08, 2016 on the captioned subject. On a review of the provisions ii, iii\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=85711"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85711\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=85711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=85711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=85711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}