The Ministry of Finance through its Department of Financial Services has asked all the Public Sector Banks and the Indian Bankers Association to ensure that deposits of new currency is properly reflected in the customers’ counterfoils and the action taken in this regard be reported by December 16, 2016.
In a letter addressed to all the Managing Directors and Chief Executive Officers, Chairman cum Managing Directors of PSBs and Chairman, IBA, the Department stated that though most banks providing correct information to the customers yet to ensure that it is done in 100% of cases without fail, all the bank branches in the country be alerted to reflect correctly the cash deposit in old and new currency and inform the customers about the same.
