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Banks, post offices to deposit scrapped Rs. 500, Rs. 1,000 notes to RBI by July 20

New Delhi [India]  : The government has asked banks and post offices to deposit demonetised notes of Rs.500 and Rs.1000 to the Reserve Bank of India (RBI) by July 20.

This is the second window being provided to banks, post offices and cooperative banks. The earlier window was open till December 31, a day after the 50-day period of demonetisation of high value currency.

A Finance Ministry notification issued on Wednesday said the specified bank notes may be deposited in any office of the Reserve Bank within a period of 30 days.

It further said that they should get the exchange value by credit to the account of such subject to the satisfaction of the RBI of the conditions specified.

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