RBI/2015-16/275
DCM (Plg) No.G-8/2331/10.27.00/2015-16
December 23, 2015
The Chairman / Managing Director / Chief Executive Officer
All Scheduled Commercial Banks
Primary (Urban) Co-operative Banks / RRBs
Madam / Dear Sir,
Withdrawal of all old series of Banknotes issued prior to 2005
Please refer to our circular DCM (Plg) No.G-15/5486/10.27.00/2014-15 dated June 26, 2015 and the Press Release dated June 25, 2015 on the captioned subject.
2. On a review of the matter, it has been decided to extend the date for exchanging the pre-2005 banknotes to June 30, 2016. However, from January 01, 2016, such facility will only be available at identified bank branches (https://www.rbi.org.in/Scripts/Regionaloffices.aspx) and Issue Offices of RBI. These instructions have been included in a Press Release dated December 23, 2015 (copy enclosed).
3. You are advised to facilitate the exchange of such notes without causing any inconvenience to the public, whatsoever. These notes will retain their legal tender status.
4. Suitable instructions may be issued to all your identified bank branches to provide exchange facilities to members of public and to stop re-issue of the pre- 2005 series banknotes. In this regard, you may please refer to the list of dos and don’ts enclosed with our circular dated March 03, 2014. Please also ensure that such notes are not dispensed through the ATMs / over your counters. The methodology to be followed for dealing with the Pre-2005 series banknotes contained in Para 3 of our circular DCM (Plg) No. G-17/3231/10.27.00/2013-14 dated January 23, 2014 remains unchanged.
5. Please acknowledge receipt.
Yours faithfully,
(Uma Shankar)
Principal Chief General Manager
CAclubindia
