RBI Extended withdrawal of old Banknotes issued prior to 2005 to 01.01.2015

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Reserve Bank of India's Principal Chief General Manager has been issued a notification No. RBI/2013-14/509 DCM(Plg) No.G- 19/3880/10.27.00/2013-14 dated 03.03.2014 regarding withdral of all old series of Banknotes issued prior to 2005 which is as under:

RBI/2013-14/509
DCM(Plg) No.G- 19/3880/10.27.00/2013-14

March 03, 2014

The Chairman / Managing Director/ Chief Executive Officer
All Scheduled Commercial Banks
Primary(Urban) Co-operative Banks/RRBs

Dear Sir /Madam

Withdrawal of all old series of Banknotes issued prior to 2005

Please refer to our circular DCM (Plg) No. G-17/3231/10.27.00/2013-14 dated January 23, 2014 on the captioned subject which was followed by a Press Release on January 24, 2014 (copy enclosed).

2. On a review of the matter, it has been decided to extend the date for exchanging the pre-2005 banknotes to January 01, 2015. These instructions have been included in a Press Release dated March 03, 2014 (copy enclosed).

3. You are advised to facilitate the exchange of such notes for full value without causing any inconvenience to the public, whatsoever. These notes will retain their legal tender status and the public can continue to use these for any transaction/ payment.

4. As advised, please issue suitable instructions to all your branches to provide exchange facilities to members of public and to stop re-issue of the pre- 2005 series banknotes. Please also ensure that such notes are not dispensed through the ATMs/ over your counters. The methodology to be followed for dealing with the Pre-2005 series banknotes contained in Para 3 of the circular dated January 23, 2014 referred to above remains unchanged.

5. A list of dos and don’ts, is being enclosed for your guidance.

6. Please acknowledge receipt.

Yours faithfully

(B.P Vijayendra)
Principal Chief General Manager