SC: Absence of Independent Witnesses is Not Fatal if Injured Eyewitness Testimony is Sterling || Supreme Court: Prosthetic Limb Costs Must Be Compensated To Restore Victims’ Dignity || Supreme Court: Probate Can be Revoked For Non-Impleadment of Parties and Suppression of Facts || SC: Plaint Cannot be Rejected For Valuation or Court Fee Defects Without Chance to Rectify || SC Rules Government Grants Act Overrides Rent Law, Sets Aside Eviction Proceeding Against Union Govt || SC: Civil Court Has No Jurisdiction in Boundary Dispute Between Maharashtra Panchayat & Municipality || Allahabad HC: Two Criminal Cases Insufficient to Label a Person as 'Goonda' and Harm Reputation || Bom HC: Sprinkling Mustard Without Ill Intent Before a House is Not an Offence under Black Magic Act || J&K&L HC: Preventive Detention Invalid When Based on Speculative Fear of Election Disturbance || Bombay High Court: POSH Act Penalises False Complaints by Women But Not Those Who Instigate Them

Withdrawal of all old series of Banknotes issued prior to 2005- (Reserve Bank of India) (23 Dec 2015)

MANU/RDCM/0009/2015

Banking

The Reserve Bank of India has extended the date by which pre-2005 banknotes are to be exchanged to 30 June, 2016. An earlier notification had set 31 December, 2015 as the last date. The exchange facility will however be restricted to select bank branches after 1 January, 2016.

A majority of bank notes from the previous ‘Mahatma Gandhi series’ have been taken out of circulation. It is standard international practice to not have currency notes from multiple series in simultaneous circulation.

Relevant : Pre-2005 Banknotes can be exchanged up to June 30, 2016 MANU/RPRL/0265/2015 Withdrawal of all old series of Banknotes issued prior to 2005 MANU/RDCM/0003/2015

Tags : BANKNOTES OLD SERIES 2005 WITHDRAWAL

Share :