In a move to check the circulation of fake currency notes in the country, banks will no longer exchange notes introduced prior to 2005.
According to a directive by the Reserve Bank of India (RBI), no exchange of pre-2005 currency notes will take place from today.
People having such notes will have to approach one of the 20 offices of the RBI directly to get such notes exchanged.
Another way out is that people can deposit such notes into their bank-accounts and the banks will send those notes to RBI.
The exchange of notes will be facilitated through RBI offices at: Ahmedabad, Bengaluru,
Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu,
Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and Kochi, an RBI release said.
The release further clarified that these pre-2005 banknotes will continue to remain legal tender.