Pre-2005 currency notes can be exchanged till 31st December -RBI
Posted on: 26/Jun/2015 11:08:58 AM
Reserve Bank of India had requested people to give the pre-2005 notes at banks and has also clarified that all such notes continue to remain legal tender. Last year in December, RBI had extended the deadline to June 30. Now the Reserve Bank of India (RBI) has extended the deadline to exchange pre-2005 currency notes to December 31.
Banknotes in the Mahatma Gandhi series have now been in circulation for a decade. A majority of the old banknotes have been withdrawn through bank branches. It has, therefore, decided to withdraw the remaining old design notes from circulation. Not having currency notes in multiple series in circulation at the same time is a standard international practice.
