How to deposit old currency notes in rbi after 31 dec 2016

This query is : Resolved

VIKAS KUMAR SHARMA (Querist)
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23 February 2017 Sir,
One of my friend's aunty was admitted in hospital on 10 Oct 2016 for brain operation. So she withdraw her gratuity for same purpose. And she has lost her memory. Now, her son found Rs 2 lac in her Room.
My question is :
how they can deposit money in RBI?
which RBI branch allow because they are resident of Amritsar?
if RBI deposit not possible then other solution like PMGKY?
please reply as soon as possible.
regards

Sathish M

Sathish M (Expert)
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23 February 2017 The window for remittance of old specified Bank Notes got closed to Indian Residence in December itself, now you can not deposit the same.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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24 February 2017 can they deposit under PMGKY? actually that money was gratuity. So, deposit under PMGKY is wiseful decision? we think about to save money only.
please suggest best option.

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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28 July 2024 Depositing old currency notes after the deadline of December 31, 2016, poses a challenge, as the formal process for exchanging or depositing such notes has been largely closed. However, there are still a few potential avenues to explore:

### **1. Depositing Old Currency Notes with RBI**

**A. **Eligibility and Procedure:**
- **Old Currency Exchange Window:** The Reserve Bank of India (RBI) did have a special window for the deposit of old currency notes post-demonetization. This was generally applicable until March 31, 2017, with some exceptions for those who were abroad or had special circumstances.
- **Current Status:** As of now, most RBI branches have closed the special deposit windows. Therefore, it might be challenging to deposit old currency notes directly with RBI unless there are exceptional circumstances.

**B. **Contact RBI Branch:**
- **RBI Branch in Amritsar:** The local RBI office or branch in Amritsar would be the point of contact. They can provide information on whether any special provisions are still available for depositing old currency notes.

### **2. **Depositing through Banks**

**A. **Availability:**
- **Bank Policy:** Most banks stopped accepting old notes for deposit after the official deadline. However, if you have valid reasons, you might approach the bank branch where the account is held to request guidance.
- **Documentation:** If you approach a bank, be prepared to provide proper documentation explaining the source and reason for the delay in depositing.

### **3. **Pradhan Mantri Garib Kalyan Yojana (PMGKY)**

**A. **Eligibility for PMGKY:**
- **PMGKY Window:** The PMGKY was an amnesty scheme allowing people to deposit old currency notes with a penalty. This scheme was valid only up to March 31, 2017.
- **Current Status:** Since the PMGKY scheme is no longer active, it is unlikely that you can use this scheme to deposit old currency notes now.

### **4. **Alternative Solutions**

**A. **Check with the Government:**
- **Government Helplines:** Contact the Ministry of Finance or the RBI helpline to explain your situation. They might provide special guidance or relief for exceptional cases.

**B. **Consider Legal Advice:**
- **Consult a Legal Expert:** In exceptional situations, it might be worthwhile to consult a legal expert who specializes in financial or tax matters. They can provide guidance on how to handle the situation based on current laws and regulations.

### **Summary**

**1. **Contact the RBI Branch:** Reach out to the RBI branch in Amritsar to inquire if they can still accept old currency notes under special circumstances.

**2. **Approach Banks:** Visit your bank branch to see if they can offer any assistance or accept the old currency notes, given the special circumstances.

**3. **Explore Government Options:** Since PMGKY is closed, check with government authorities or financial consultants for any exceptional measures that may apply to your case.

**4. **Consult Legal Help:** If needed, seek professional advice for managing this issue under current regulations.

Unfortunately, without the availability of PMGKY or other official schemes, the options are quite limited, but contacting local authorities and financial institutions is the best way to find a viable solution.