“If they go and deposit with the bank any amount of currency, no questions are going to be asked to them and therefore the 5000 rupee limit does not apply to them – but (only) if they go and deposit it once.
“But if they are going to go everyday and deposit some currency (small amounts), same person, that gives rise to suspicion that where is he acquiring this currency from. In that event a person may have something to worry about. Therefore everyone is advised whatever old currency you have please go and deposit it now,” he said.
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And since there is no scope now for earning any old currency because all exemptions have been waived, it makes sense to go deposit all the holding in one go, Mr Jaitley said.
“This is the objective of the order passed today.”
After banning old 500 and 1,000-rupee notes on November 8, the government had allowed all of the cash holdings with any person to be deposited in bank accounts till December 30.
