MUMBAI: Banks will no longer exchange notes
introduced prior to 2005. From Friday , if
anyone has such notes he would need to
approach one of the 20 offices of the Reserve
Bank of India directly to get such notes
exchanged. However, there's a way out: If one
has such notes, the person can deposit those
notes in his bank account and the bank will
send those notes to RBI.
Since January 2014, the RBI, through banks,
has been withdrawing currency notes circulated
prior to 2005. The central bank on Thursday
said a large percentage of these notes have since been withdrawn, with only a
small percentage still remaining in circulation. "On a review thereof, it has since
been decided that July 1 onwards, the facility for members of public to
exchange the pre2005 notes will be available only at the following offices of
RBI: Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh,
Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow,
Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and Kochi," a release
from the RBI said.
The RBI has also clarified that these pre2005 bank notes will continue to
remain legal tender, meaning people can use these notes just like other notes
which were printed and circulated since 2005.
Source:-The Economic Times
No comments:
Post a Comment