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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

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