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RBI-Exchange of Pre-2005 Banknotes at Select Offices of RBI from July 01, 2016
July, 01st 2016

The Reserve Bank of India has observed that a major portion of the pre-2005 banknotes have been withdrawn from circulation and only a small percentage of these notes remains in circulation. On a review, therefore, the Reserve Bank has decided that from July 01, 2016 the facility of exchanging the pre-2005 banknotes will be available only at the following offices of the Reserve Bank of India:

Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and Kochi.

The Reserve Bank of India had, in December 2015, 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 of India.

The Reserve Bank has also clarified that these pre-2005 banknotes will continue to remain legal tender.

The Reserve Bank of India has stated that it is a standard international practice not to have currency notes from multiple series remaining in circulation at the same time.

Soliciting cooperation from members of the public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to exchange pre-2005 banknotes at the above mentioned offices of the Reserve Bank of India, as per their convenience. The Reserve Bank of India will continue to monitor and review the process so that the public is not inconvenienced in any manner.

Alpana Killawala
Principal Adviser

Press Release : 2015-2016/3051

Related Pressreleases/Notification
February 11, 2016 Withdrawal of all old series of Banknotes issued prior to 2005
December 23, 2015 Pre-2005 Banknotes can be exchanged upto June 30, 2016
June 25, 2015 RBI extends the Date for Withdrawal of Pre-2005 Series Banknotes
December 23, 2014 Deposit Pre-2005 Currency Notes in Your Bank Accounts before June 30, 2015: RBI urges Public
March 03, 2014 RBI extends the date for exchanging Pre-2005 banknotes to January 01, 2015
January 24, 2014 Banknotes issued prior to 2005 to be withdrawn – RBI Clarification
January 22, 2014 Banknotes issued prior to 2005 to be withdrawn: RBI Advisory

 
 
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