Mumbai, Jun 30 () The Reserve Bank today said it will accept pre-2005 banknotes only at its select branches from tomorrow as majority of the old series banknotes have been withdrawn.<\/p>\n
RBI is pulling out the pre-2005 banknotes because of fewer security features compared to banknotes printed after 2005.<\/p>\n
The central bank said it has observed that a major portion of the pre-2005 banknotes have been withdrawn from circulation and only a small percentage of these notes remains in circulation.<\/p>\n
“On a review, therefore, the Reserve Bank has decided that from July 1, 2016 the facility of exchanging the pre-2005 banknotes will be available only at the select offices of the Reserve Bank,” it said in a release.<\/p>\n
The branches are: Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and Kochi.<\/p>\n
Reserve Bank in December 2015 had set June 30, 2016 as the last date for public to exchange pre-2005 banknotes at the identified bank branches and Issue Offices of the Reserve Bank.<\/p>\n
RBI also clarified that these pre-2005 banknotes will continue to remain legal tender.<\/p>\n
Further, RBI said it is a standard international practice that not to have currency notes from multiple series remaining in circulation at the same time.<\/p>\n
Soliciting cooperation from public in withdrawing these banknotes from circulation, RBI has urged them to exchange pre-2005 banknotes at its mentioned offices as per their convenience.<\/p>\n
“The Reserve Bank will continue to monitor and review the process so that the public is not inconvenienced in any manner,” it said. KPM BAL MR<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai, Jun 30 () The Reserve Bank today said it will accept pre-2005 banknotes only at its select branches from tomorrow as majority of the old series banknotes have been withdrawn. RBI is pulling out the pre-2005 banknotes because of…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"coauthors":[],"_links":{"self":[{"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/posts\/18433"}],"collection":[{"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18433"}],"version-history":[{"count":1,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/posts\/18433\/revisions"}],"predecessor-version":[{"id":18434,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=\/wp\/v2\/posts\/18433\/revisions\/18434"}],"wp:attachment":[{"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18433"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/indianewsnet.com\/marathi\/index.php?rest_route=%2Fwp%2Fv2%2Fcoauthors&post=18433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}