Wednesday, December 21, 2016
Rs.5000/- Deposit Order Amended, No questions for KYC Account
Kindly refer to the instructions issued on 19.12.16 in connection with deposit of SBN (WOS Notes) into the accounts (in excess of Rs. 5000/- only once till 30.12.2016). Now RBI has advised that the provisions of the RBI Circular No. DCM (Plg) No. 10.27.00/2016-17 dated 19.12.2016 at sub para (i) and (ii) will not apply to fully KYC compliant accounts. The copy of the RBI Circular No. DCM (Plg) No. 1911/10.27.00/2016-17 dated 21.12.2016 is attached herewith.
The above changes/modification may be communicated to all concerned.