The Apex Bank of India (RBI) on Monday 3rd Mar 2014 announced that they are extending further nine (9) months from existing deadline of Apr 2014 for exchanging bank notes issued prior to 2005 which don't have year printed on the reverse side of the currency note.
The previous deadline of 31st Mar 2014 was extended to 1st Jul 2014 in the previous press release of Reserve Bank of India, but now the RBI Press Release on 3rd Mar 2014 conveyed that current deadline for exchanging the pre-2005 currency notes is set as 1st January 2015;
The RBI press release (Reserve Bank Governor Raghuram Rajan) said that the withdrawal exercise is implemented in conformity with the international standard practice of not having circulation of multiple series of currency notes at the same time, to help in curbing the circulation of fake currency & have more security features;
For previous press release for deadline of exchanging the Pre-2005 currency notes click here
The previous deadline of 31st Mar 2014 was extended to 1st Jul 2014 in the previous press release of Reserve Bank of India, but now the RBI Press Release on 3rd Mar 2014 conveyed that current deadline for exchanging the pre-2005 currency notes is set as 1st January 2015;
The RBI press release (Reserve Bank Governor Raghuram Rajan) said that the withdrawal exercise is implemented in conformity with the international standard practice of not having circulation of multiple series of currency notes at the same time, to help in curbing the circulation of fake currency & have more security features;
For previous press release for deadline of exchanging the Pre-2005 currency notes click here
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