F. No. 1/04/2016-NS.II

Ministry of Finance

Department of Economic Affairs

(Budget Division)

North Block, New Delhi

Dated: 23.11.2016

To

1. The Chief General Manger

Reserve Bank of India

Department of Government and Bank Accounts

Central Office, Byculla Office Building

4th Floor, Opp. Mumbai Central Railway Station

Buculla, Mumbai-400008

2.  The Deputy Director General

Department of Posts

Dak Bhawan, Sansad Marg

New Delhi

3. The Joint Director & HOD

National Savings Institute

ICCW Building

4, Deendayal Upadhyay Marg

New Delhi.

Subject: Deposit of old demonetized notes of ₹ 500 and ₹ 1000 in Small Savings Schemes.

Sir,

In pursuance of this Ministry's OM of even No. dated 22.11.2016 on the subject I am directed to clarify that the deposits into Post Office Savings Account are excluded from the bar imposed therein.

2.  This has the approval of Secretary (Economic Affairs).

Yours faithfully

(Padam Singh)

Regional Director (Sr.)

Tele: 011-23095155

Deposit exclusion for Post Office Savings Accounts allows acceptance of old demonetized notes despite Small Savings bar. Deposits of old demonetized notes into Post Office Savings Accounts are excluded from the bar in the Ministry's OM dated 22.11.2016 on deposits in Small Savings Schemes. The Department of Economic Affairs issued the clarification with the approval of the Secretary (Economic Affairs) for the Reserve Bank department, Department of Posts, and National Savings Institute.