RBI extends deadline to exchange pre-2005 currency notes
[image: RBI-II]
*PTI | Mar 3, 2014 *
The RBI said the withdrawal is in conformity
with the standard international practice of
not having multiple series of notes in
circulation at the same time.
*The Reserve Bank of India on Monday granted an additional nine months for
the public to exchange *
*currency notes printed **before 2005, including **Rs 500 and Rs 1,000
denominations, and set a deadline of **January 1, 2015**.*
*"RBI has also advised banks to facilitate the exchange of these notes for
full value and without causing any inconvenience whatsoever to the public,"
the central bank said in a release.It clarified that the public "can
continue to freely use these notes" for transactions and can unhesitatingly
receive these notes in payment as all such notes remain legal tender.*
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