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Important news about 500 and 1000 rupee notes, RBI gave these instructions to banks on demonetisation

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Cases of old 500 and 100 rupee notes have been coming to the fore. Many questions have also been raised regarding this. In such a situation, the recording of CCTV footage of banks can play an important role in the investigation of ED.

These 500-1000 notes do not work anymore.

On November 8, 2016, the government had discontinued the notes issued at that time of Rs 500 and Rs 1,000. The government had taken this step against black money holders and terrorism financing. During this time, the government had given an opportunity to the people to deposit the discontinued notes in their bank accounts.

Now on this matter, the Reserve Bank of India has directed the banks to keep the CCTV recordings of their branches and currency chests with them till further orders for the period from November 8, 2016 to December 30, 2016. The Reserve Bank has given this order with the aim of helping the enforcement agencies to take action against those involved in illegal activities during the period of demonetisation.

Do not destroy footage till further orders

According to the information received from various sources, the investigating agencies have also started investigation in the case of illegal deposit of new currency notes during this period. To facilitate such scrutiny, the Reserve Bank has asked banks not to destroy CCTV footage during the demonetisation period till further orders. Out of Rs 15.41 lakh crore of Rs 500 and Rs 1,000 notes in circulation at that time (on November 8, 2016), Rs 15.31 lakh crore notes were returned to the government.

New notes of 500 and 2000 rupees were issued

The government discontinued the notes that were in circulation at that time of 500 and 1,000 rupees and issued new notes of 500 rupees and 2,000 rupees in their place. Then a huge crowd gathered outside bank branches across the country. People stood in long queues outside banks to deposit the discontinued notes in the bank or to take new notes in their place. In fact, even after four and a half years of demonetisation, cases of old Rs 500 and Rs 100 notes have been coming to the fore. Many questions have also been raised regarding this. In such a situation, the recording of CCTV footage of banks can play an important role in the investigation of ED.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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