Today, Reserve Bank of India has freed Know Your Customer bank accounts in which no question will be asked for deposit of old currency notes of above Rs 5000 notes. The RBI has sent the message to all the banks.
According to RBI, they have reviewed the whole matter and then decided that the rule will not be implemented on all KYC accounts.
On Monday, RBI imposed this restriction after which people crticized the move and blamed them for affecting the people who waited in front of bank for withdrawing the money.
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