Trusted Modi that I had time till Dec 30: citizen's explanation on late deposit of notes goes viral

Individuals can deposit over Rs 5,000 in old currency bills only once until Dec 30 and that too after stating reasons for delay

Since Prime Minister Narendra Modi announced demonetisation, the government and the Reserve Bank of India is coming out with  new notifications every second day. The latest one said individuals can deposit over Rs 5,000 in old currency bills only once until December 30 and that too after explaining why it had not been done so far.

In view of this order, a Ramakumar Ram explained his position and said he believed in the words of Prime Minister Narendra Modi and Finance Minister Arun Jaitley and thus did not deposit his cash early as the government had given time till 30 December to do so. 

"I trusted the words of my Prime Minister and Finance Minister that I have time till December 30 to remit old notes. But they changed their minds," he wrote in reply to the question asking reson for not depositing SBNs till date.

 

After banning old 500 and 1,000 rupee notes on November 8, the government had allowed all of the cash holdings with any person to be deposited in bank accounts till December 30. There was no limit on the quantity or value of the junked notes that could be deposited.

With a view to "reduce the queues in the banks", the government said it has now been decided that "amounts exceeding Rs 5,000 in old notes can be deposited only once between now and December 30, 2016."

Swaraj India chief Yogendra Yadav on Monday also told a bank that he "believed" in the assurance made by the Prime Minister and the RBI that demonetised currency could be deposited till December 30, when he deposited his old notes.

Yadav said he had not deposited old currency notes because he was waiting for the rush to subside as the deadline for the same was December 30.
 

After the circular was issued on Sunday, his wife Madhulika Banerjee went to the UCO bank to deposit old currency notes.

"I have made no cash deposit in my account since November 8. I see no reason to offer any special explanation for the same [for making the deposit now]. I normally like and wait for the queues to end.

"I was assured by the Prime Minister, the Finance Minister and the RBI that there was no need to rush to the banks and that I had till December 30 for making any deposit. I believed them," Yadav said in his explanation to the bank.