Subject: Restriction on Deposit of WOS Notes into SB Account
Kindly refer to the SB Order No. 12/2016 dated 08.11.2016 (Para No. 02 (iii) ) regarding deposits of WOS Notes. There is a partial modification in the acceptance of deposits of WOS notes. RBI vide their notification number RBI/2016-17/189 DCM (Plg) No. 1859/10.27.00/2016-17 dated 19.12.2016 has decided to place certain restrictions on deposit of SBNs (Specified Bank Note/WOS Notes) into the accounts by allowing deposits in excess of Rs. 5000/- will be received for credit only once during the period till December 30th, 2016. Copy of the RBI notification is attached herewith.
It is requested to kindly issue necessary instructions to all concerned in this regard.