New Delhi , Dec 11 : In an attempt to provide ease from demonitization effect finance Ministry has asked all the bank branches in the country be alerted to reflect correctly the cash deposit in old and new currency and inform the customers about the same.
Directing top officials from financial institution through a letter, the Ministry of Finance, through its Department of Financial Service stated that maintenance of records regarding deposit of SBN and Non-SBN, as the case may be, is essential both in the bank record as well as the customer’s record.
The Ministry has asked the MDs &CEOs/CMDs of PSBs and Chairman, IBA to follow the directions of ministry scrupulously without any deviation.
The ministry said that a strict action will be initiated if found guilty in this regard. The DFS has asked all the MDs &CEOs/CMDs of PSBs and Chairman, IBA to consider this urgently and action taken in this regard be reported by 16.12.2016.
The ministry has asked bank to carry out awareness programme to educate the public. Banks must clearly display a prominent sign including in the local language in their respective branches requesting their customers to fill-up deposit slips clearly indicating old and new currency and the denomination of the notes.