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Banks Must Keep Deposits Record Of Scrapped, Valid Notes, Says Government
Record maintenance essential, says Finance Ministry to PSU bank chiefs Any deviation has to be dealt with firmly and immediately, it adds Government last month scrapped legal tender of Rs 500, Rs 1,000 notes
12 Dec 2016, 10:24 AM IST 
The RBI has said nearly Rs 12 lakh crore of old high value notes have returned to the system.
New Delhi: To avoid any malpractices, the government has asked all public sector banks to strictly maintain a record of deposits made through both old Rs 500 and Rs 1,000 notes and other valid currencies.
In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that "maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as the case may be, is essential both in th...
