Pre - 2005 Rs 500 banknotes can be exchanged at the identified bank branches only
Posted on: 01/Jul/2016 11:18:38 AM
In order to prevent the circulation of counterfeit notes, the Reserve Bank of India had announced that it will take back the Rs 500 pre-2005 banknotes because of fewer security features. Reserve Bank had 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.
Since the last date is over, the Reserve Bank has decided that from July 1, 2016 the facility of exchanging the pre—2005 banknotes will be available only at the select offices of the Reserve Bank.
The branches are: Bengaluru, Chennai, Hyderabad, Mumbai, New Delhi Thiruvananthapuram and Kochi.
RBI also clarified that these pre—2005 banknotes will continue to remain legal tender.
