Pre-2005 notes to be exchanged only at RBI offices
The move was because RBI observed that "a major portion of the pre-2005 banknotes have been withdrawn from circulation"
 "Pre-2005 notes to be exchanged only at RBI offices")
cashier counts rupee notes inside a bank in Mumbai
RBI on Thursday clarified that pre-2005 currency notes, effective July 1, could only be exchanged from select offices of the central bank in major cities and not from banks, even as the notes continue to remain legal tender.
The move was because RBI observed that "a major portion of the pre-2005 banknotes have been withdrawn from circulation".
The move was because RBI observed that "a major portion of the pre-2005 banknotes have been withdrawn from circulation".
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First Published: Jul 01 2016 | 12:31 AM IST