Aggravating the woes of common people Finance Ministry has freshly issued a statement saying, deposits of old Rs. 500 and Rs. 1,000 notes worth more than Rs. 5,000 into bank accounts can be made only once till December 30. This fresh restriction on deposits is meant to check the laundering of unaccounted cash flowing into bank accounts.
People can deposit up to Rs.5,000 without any restriction but large deposits cannot be made multiple times in bank accounts.
The statement also reads, there will be no restriction on amount deposited towards the new black money disclosure scheme the Pradhan Mantri Garib Kalyan Yojana.
RBI is also likely to issue fresh guidelines this evening prescribing enhanced checks for deposits over Rs.5000.