RBI rolls back norms for deposit of old notes by KYC customers

December 21, 2016

Mumbai, Dec 21: Under all-round attack, the Reserve Bank today did a U-turn on customers depositing demonetised notes over Rs 5,000 till December 30 by making it clear that there will be no questions asked either in case of one-time or repeat deposits if the accounts are KYC-compliant.

RBISuch customers will also not be questioned by bank officials on why they had failed to deposit the old notes earlier.

The RBI turnaround came as Finance Minister Arun Jaitley's assurance on Monday night and yesterday that there will be no questions asked to customers who would make one-time deposit above Rs 5,000 failed to persuade bank officials who insisted that there should be fresh circular from RBI so that customers will not be harassed.

However, customers with non-KYC accounts will be subject to stiff conditions imposed by RBI on December 19 for deposit of junked notes.

The decision follows widespread criticism of the guidelines, with people saying the Prime Minister as well as the finance minister have asked people not to throng the banks as they have time till December 30 to deposit invalid notes in their accounts.

On review of the guidelines, RBI decided to modify the old currency deposit rules for fully-KYC compliant customers, an RBI notification said today.

The December 19 notification of RBI had said tenders of old currency in excess of Rs 5,000 into a bank account will be received for credit only once during the remaining period till December 30, 2016.

"The credit in such cases shall be afforded only after questioning tenderer, on record, in presence of at least two officials of the bank, as to why this could not be deposited earlier and receiving a satisfactory explanation. The explanation should be kept on record to facilitate an audit trail at a later stage," it had said.

Replying to queries on curbs on deposit of old currency notes by RBI, Finance Minister Arun Jaitley yesterday had said people should go and deposit the now-defunct notes at one go as repeat deposits raise doubt.

"Today, there are no exemptions... Now, there is no further scope of earning old currency. So, those who have got old currency must go and deposit at one go," he had said.

"Therefore, if somebody goes everyday and deposit old currency, it raises suspicion. How is he getting everyday? As long as exemptions existed, there was scope for getting old currency. But once the exemptions have been lifted, if you have old currency, go and deposit at one go."

Comments

Abu Muhammad
 - 
Wednesday, 21 Dec 2016

When I read Govt/Bank/Ministers statements on demonetisation, it reminds me of the KG class story of intoxicated Monkey playing havoc in the village. Very painful entertainment indeed!!!

abdullah
 - 
Wednesday, 21 Dec 2016

in all top department mad people sitting to take daily different decisions.

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Agencies
June 26,2020

New Delhi, Jun 26: Over 700 employees of Hindu Rao Hospital would stage a protest against North Delhi Municipal Corporation on Friday morning over non-payment of their salaries since April. The staff includes paramedical, nurses, and Class IV employees of the hospital. However, the employees said that only 40 or 50 people would gather to stage the protest keeping COVID situation in mind, and the norms of social distancing would also be followed.

Tejinder Singh, president of the Paramedical technical staff welfare association, said that the corporation is forcing the employees to go on a protest when they are needed the most. "The government hails us as Corona warriors but do not treat us like one," he commented.

"We all have families. Many amongst us have taken loans, live on rental accommodation, and have children whose schools and colleges are demanding fees. How would we incur our expenses when we are not paid? We repeatedly asked the corporation to clear our dues, but our requests fell on deaf ears. We don't have any option but to go on protest," he said.

Besides, Singh also said that the staff of Hindu Rao had not received arrears of seventh pay commission, bonus and dearness allowances for two years. "These are our rights which we are being denied. The protest is to call out injustice and ignorance we face from the administration," he added.

The nurses of the hospital corroborated with Singh. However, they also added the issues they are facing since the pandemic started that they would be rising through the protest.

Nurses complain lack of facilities despite hospital gearing up as dedicated COVID care

Indumati Jaiswal, president of nurses' welfare association of the hospital, said that apart from salaries, the hospital is not providing many facilities required by the staff to battle the pandemic. The Delhi government had designated the hospital as a dedicated COVID facility on June 16.

"The preparedness for such responsibility is completely shoddy. There is no provision for air conditioners and coolers for us. We have to work wearing PPE kits for six hours straight under ceiling fans. The lack of AC and coolers amplifies our struggle to stay under PPE kits for longer hours. We can't even drink water in that duration. It's just inhumane," Jaiswal said.

Jaiswal also said that the hospital is facing staff crunch, yet, have not prepared a roster for the nurses. "The hospital has 238 nurses on 700 doctors. This is opposite to the prescribed guidelines of the Indian Nurses Council that suggests four nurses per doctor as a healthy ratio. Here, we have less than five nurses per doctor. A complete opposite of an ideal scenario," she complained.

Jaiswal said that the room for donning and doffing the PPE kits should be outside the ward. "In the hospital, it's within the ward, and the nurses have to cross through the patients to wear in and out the PPE suits. It increases the risk of contracting COVID-19 from the patients," she said.

The hospital employees informed that more than 40 healthcare workers from Hindu Rao had contracted the COVID-19 infection.

The corporation argues lack of funds behind delay in salaries

Indu Singhal, the deputy commissioner of North Delhi Municipal Commissioner, told media corporation is in the process to resolve the salary issues of the Hindu Rao Hospital's staff. "We have received their complaints and pursuing the matter. We will release their dues as soon as we receive the funds from the government," she said.

However, a senior official of the corporation revealed that the corporation is reeling under an acute shortage of funds. "Even the employees working in the corporation have not been paid salaries. The employees of A-grade are not paid since March," the official said.

Singhal said that the dispersion of salaries starts from the lower base. "Many officers, including I have not been paid," she added.

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March 24,2020

Gautam Buddh Nagar, Mar 24: As many as 96 First Information Reports (FIRs) were registered and more than 2000 challans issued in Noida yesterday for violation of lockdown rules, police said. The lockdown was imposed in a bid to contain the spread of coronavirus, which has taken more than 14000 lives across the globe.

The FIRs were registered against people for allegedly flouting Section 144 and not adhering to the orders of the state government for staying indoors.
Chief Minister Yogi Adityanath on Monday stated that all borders adjoining Uttar Pradesh should be completely sealed.

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News Network
May 9,2020

May 9: Union Home Minister Amit Shah has said the West Bengal government is not allowing trains with migrant workers to reach the state that may further create hardship for the labourers.

In a letter to West Bengal Chief Minister Mamata Banerjee, Shah said not allowing trains to reach West Bengal is "injustice" to the migrant workers from the state.

Referring to the 'Shramik Special' trains being run by the central government to facilitate transport of migrant workers from different parts of the country to various destinations, the home minister said in the letter that the Centre has facilitated more than two lakh migrants workers to reach home.

Shah said migrant workers from West Bengal are also eager to reach home and the central government is also facilitating the train services.

"But we are not getting expected support from the West Bengal. The state government of West Bengal is not allowing the trains reaching to West Bengal. This is injustice with West Bengal migrant labourers. This will create further hardship for them," Shah wrote.

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