Only 10 more days remaining to exchange prior 2005 currencies
Posted on: 22/Jun/2015 11:12:32 AM
There is only 10 days left to change the old 2005 currencies. The Reserve Bank of India had decided to withdraw the currencies that were printed prior to 2005. The RBI has asked the public to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The earlier deadline was January 1, but later the Reserve Bank had extended it till the end of this month.
Over 164 crore pre-2005 currency notes of various denominations, including of Rs 1,000 were shredded in regional offices of Reserve Bank in 13-month period ending January. The face value of the shredded currency notes was around Rs 21,750 crore. As per the details given in Parliament in March, 86.87 crore pieces of Rs 100, 56.19 crore pieces of Rs 500 and 21.75 crore pieces of Rs 1,000 were shredded.
