MUMBAI Dec 21 The Reserve Bank of India on
Wednesday rolled back a recent curb on cash deposits that had
been put in place just 10 days before the end of the
government's demonetisation deadline of Dec. 30.
The measure had directed banks to question any individual
depositing more than 5000 rupees ($74) in old discontinued notes
in the days leading up to the deadline.
Customers had to give the banks a satisfactory reason on why
they had not deposited the funds earlier.
In a one-line notification, the RBI withdrew the rule on
Wednesday for all accounts which have been verified by banks by
providing so-called 'know-your-customer' documents, but did not
cite any reason for the same.
($1 = 67.8549 Indian rupees)
(Reporting by Suvashree Dey Choudhury; Editing Euan Rocha)