Arun Jaitley: Repeated deposits of scrapped currency likely to raise queries

There was no limit on the quantity or value of the junked notes that could be deposited.

However, the government on December 17 issued a gazette notification putting restrictions on deposits henceforth.

“The deposits of old notes of Rs. 500 and Rs. 1,000 denominations have been reviewed by the government from time to time. Already more than five weeks have elapsed since the time of the announcement of the cancellation of the legal tender character of these notes. It is expected that, by now, most of the people would have deposited such old notes in their possession,” an official statement said.

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(Sourced from agencies, feature image courtesy:oneindia.com)