The Reserve Bank of India (RBI) has stated that the deposit of old notes exceeding the amount of Rs 5000 will be allowed only once per account till uline{1cm}

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Reserve Bank of India (RBI) has stated that the deposit of old notes exceeding the amount of Rs 5000 will be allowed only once per account till _________

A	15 January 2017
B	25 December 2016
C	22 February 2017
D	30 December 2016

Explanation:

Detailed explanation-1: -The old currency notes of Rs 500 and Rs 1000 can now only be exchanged at the offices of the Central banks. Get to know the timings of the bank and make sure you reach there ahead of time to avoid long queues.

Detailed explanation-2: -Members of public can exchange banknotes in ₹ 500 and ₹ 1000 denominations, whose legal tender status has been withdrawn, at Reserve Bank of India counters up to the current limits (Rs 2, 000 per day) per person as hitherto, the central bank said.

Detailed explanation-3: -CDs shall be issued only in dematerialised form and held with a depository registered with Securities and Exchange Board of India. CDs shall be issued in minimum denomination of ₹5 lakh and in multiples of ₹5 lakh thereafter. The tenor of a CD at issuance shall not be less than seven days and shall not exceed one year.

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