Hari it is legal.

if u dont have 500, 1000 rupees old note then u need not worry and hurry for opening bank account.

Will u appreciate this answer by giving THANKS button my LCI profile?

it is also illegal for someone to carry huge cash reserves with them and if they do but don't have even a single bank account, that is very likely illegally obtained money.

It is surely legal. Let's not stretch the liberties/freedom we have in constitution by stretching our imagination, to our convenience.

 

If you are feeling that Government is wrong, please do file a case in Supreme Court informing them how much of currency you have in 500 and 1000 currency and explain Court the difficulties and inconvenience experienced/faced by you and also exlain how it is unconstitutional.  If your aruguments are convincing Sureme  Court may give a stay order.

SARDAR SENA.

WE WORK FOR THOSE WHO DO NOT HAVE ANY SUPPORT, SECURITY OR BENEFIT OF ANY SCHEMES.

Laws and constituion is made by humans and it touches a small part of human existance. Law of nature are absolute and if we are in its harmoney the society goes ahead and if not we suffer.

 

The present step is retrogate and the FIFITY DAYS will push the economy back to fifty years.

 

The most astonishing result will be that those political parties who could have otherwise gone in the dustbin of history will be revived just like earlier JANTA GOVT.

The member (query) has not gone through directives and is having misconceptions.

The present exchange limit is R.4,500/-

There is no legal bar on crediting of any amounts in existing accounts.

The same can be withdrawn to a maximum extent of Rs.20,000/- in a week and daily limit has been lifted.

Banks are having no need to compel a citizen to open a Bank account.  For Those who are not having open even after such schems as Jandhan yojana still, is not following the trend to have a Bank account, nothing can be said, that it is is an exceptional case.

This is a phase and there is bound to be inconvenience and some little sacrifices are needed atleat temporarily in the interest of the Nation, and when facing such troubles, one must remember the position of soldiers fighting at Minus temperatures and our comforts and small temporary problems.

I concur with G.L.N.Prasad.