DCM (Plg) No.5720/10.27.00/2016-17
The Chairman / Managing
Director/ Chief Executive Officer,
District Central Co-operative Banks
Specified Bank Notes held by
Please refer to the Specified
Bank Notes (Deposit by Banks, Post Offices and District Central
Co-operative Banks) Rules, 2017 (copy enclosed) notified by the Government of India on June
20, 2017. In terms of para 2 thereof, it has been decided to accept from
DCCBs Specified Bank Notes (SBNs), received by them from their customers
within the period of November 10 to 14, 2016 as under:
exchanged / accepted as deposits by DCCBs from November 10 to 14, 2016,
will be eligible for deposit. Balances of SBNs held as at the close of
transaction on November 8, 2016 and still not deposited, are not eligible.
accepted by DCCBs from November 15, 2016 onwards are not acceptable for
deposit under the facility.
facility will be available at RBI Regional Offices in Ahmedabad, Bengaluru,
Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad,
Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna
may deposit eligible SBNs with RBI under the Bank’s Guarantee Scheme.
Credit to the account of the bank concerned will be subject to satisfaction
of RBI on the reasons for non-deposit of SBNs within the stipulated period.
concerned may approach the RBI office under whose jurisdiction they
so received, will be subjected to detailed examination for accuracy and
authenticity in the presence of representative from the DCCB concerned and
thereafter, adjusted for shortage /excess and counterfeits.
RBI Offices will accept SBNs till July 19, 2017.
(P Vijaya Kumar)
Chief General Manager
Encl.: As above