Prime Minister Narendra Modi and some other ministers are on record saying that there was no need to rush to banks to exchange or deposit the scrapped Rs 500 and Rs 1,000 notes. These notes could be deposited or exchanged at banks till December 30, 2016, and thereafter, up to March 31 this year at specified Reserve Bank of India (RBI) offices. Para IX of a GoI (government of India), MoF (ministry of finance) notification dated November 8, 2016, and para 3 (c) VIII of RBI, DCM letter also dated November 8 addressed to all banks say that any person
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No need to rush to banks to exchange or deposit the scrapped Rs 500 and Rs 1,000 notes
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