❓Ask Duta : New currency scheme - some practical examples❗

  |   India News

1) You have ₹25,000 in old currency notes of ₹500 and ₹1000 and go to a bank branch nearby where you dont have account

Go the nearby branch, fill in the form, take ₹4,000 in cash and provide the bank account details required for electronic transfer of the rest of the money

2) You have ₹25,000 in hand but cannot go to the bank as you are ill.

You can authorize a person in writing. While exchanging, this authorization letter along with the representative's valid ID proof should be provided. It may be prudent to mention in the authorization letter you give, mention all the relevant details of the amount being deposited, the date, your ID details, your bank account details where amounts over ₹4,000 will be transferred electronically and also the name, address and ID details about the person who is being authorized.

3) You don't have a bank account but a relative of yours has an account which you want to use for deposit

Yes, you can do that if the account holder relative/friend etc gives you permission in writing. While exchanging, you should provide to the bank, evidence of permission given by the account holder and your valid identity proof.

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