Months after 'demonetisation' took the country by a storm, the government on Tuesday allowed the RBI to accept demonetised notes received by the District Central Cooperative Bank (DCCB)
The party had demanded a week ago that INR 2,270 Cr be accepted by RBI which is with DCCB.
Reports say that DDCB can deposit the demonetised notes with the RBI within 30 days from Tuesday. Banks and post offices which had collected demonetised currency prior to December 30, 2016, are allowed to deposit the money with RBI.
The deposits can be made under Specified Bank Notes (Deposits by Banks, Post Offices and District Central Cooperative Banks) Rules, 2017.
Officials said that the deposits would be taken in pursuance to an assurance given to the Supreme Court by the government that proper verification of each account would be done before any decision is taken.
Such verification was done between January and May this year and it was found that the accounts complied with the KYC norms.