Bhutanese owning Rs 1,000 and 500 denominations have until November 30 to exchange them with the banks.
The Royal Monetary Authority’s issued a notification yesterday shortening the time frame.
The earlier deadline was December 15.
Many people continue to flock to banks after India began demonetisation six days ago.
“Whatever RMA has collected from the Banks and the public now we have to transfer it to the Reserve Bank of India by December 31 and put into account and put the new notes that we have to distribute to the public,” said the central bank’s governor, Dasho Penjore.
He also said there is enough time given to the people to deposit INR they have.
“If we extend it further there is risk of the facility being misused.”
The financial Intelligence unit of RMA is closely monitoring and collecting detailed information on all deposits being made.
The Governor said they haven’t faced any major issues as of now.
He said their team has visited Samtse, Gomtu and Phuentshogling and we are also getting information from the banks in Gelegphu and Samdrup Jongkhar.
The governor said they are collecting the list of people who have deposited more than 100,000 and 500,000 and the companies who have deposited even higher.
He said they haven’t encountered any suspicious activities.
The governor said if there are any suspicious transactions, they will carry out investigation at later date.
So far, RMA has disbursed around Rs 17 M 100 Rupee notes. They still have around 28 M in the reserve.
They collected around Rs 500 M 1,000 and 500 denomination notes.
