RBI/2016-17/149
DCM (Plg) No.1346/10.27.00/2016-17
Dated: November 22, 2016
The Chairman / Managing Director/Chief Executive Officer,
Public Sector Banks / Private Sector Banks/ Foreign Banks
Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks.
Dear Sir,
Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Specified Bank Notes (SBNs) – Cash withdrawal for purpose of celebration of wedding – Modification
Please refer to the circular DCM (Plg) No.1320/10.27.00/2016-17 dated November 21, 2016. It has been decided to modify the instructions contained in paragraph 2 vi (c) of the aforesaid circular, as under:
A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are being made.
Yours faithfully,
(P Vijaya Kumar)
Chief General Manager
Editors Note- Earlier one of the condition for wedding celebration was that The application for withdrawal shall be accompanied by ‘A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account. The list should indicate the purpose for which the proposed payments are being made.’
In above the deceleration was to be submitted of all persons to whom cash payment was to be made irrespective of amount but now the same is to be submitted only for cash payment exceeeding Rs. 10000/-
