59 changes in 40 days

[LordOfMud]

59 demonetisation changes before 50 days: Here are 10 important developments.  

"there is no need for panic"      

Several flip flops over the implementation of the drive.

The notification on Monday was the 59th communication issued by RBI-Finance Ministry.

  1. Deposit above Rs 5000 in banned notes only once until December 30

2. Banks to question deposits over Rs 5000

3. No limit on deposits in Pradhan Mantri Garib Kalyan Yojana, 2016

4. You may be questioned even if you deposit any amount below Rs 5000 multiple times before December 30

5. Full amount of deposits over Rs 5000 only in KYC-compliant accounts

6. Deposit limit of Rs 50,000 in non-KYC compliant accounts

7. There was no restriction for deposits up to Rs 2.5 lakh initially

8. Government had urged people not to rush, spread out their deposits

9. Government hopes all people have already deposited their old notes

10. On November 8, PM Modi asked people not to panic and said anyone can deposit banned notes without any limit till December 30