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TMI BlogRBI extended the date for withdrawal of Pre-2005 Series Banknotes till December 31, 2015.X X X X Extracts X X X X X X X X Extracts X X X X ..... RBI extended the date for withdrawal of Pre-2005 Series Banknotes till December 31, 2015. X X X X Extracts X X X X X X X X Extracts X X X X ..... public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation from membe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt to them. The Reserve Bank has stated that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender. Explaining the move, the Reser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve Bank said that the banknotes in 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 A majority of the old banknotes have been withdrawn through bank branches.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, decide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d 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, the Reserve Bank has p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ointed out.
The Reserve Bank will continue to monitor and review the process so that the public is not inconvenienced in any manner.
Alpana Killawala
Principal Chief General Manager X X X X Extracts X X X X X X X X Extracts X X X X ..... ss release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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