Exchange your pre-2005 currency notes before January 1
- Comments::DISQUS_COMMENTS
New Delhi: Due to security reasons the reserve bank has decided to withdraw currency notes of all denominations printed before 2005 from the market. People have time of only eight days to exchange their currency notes.
The notes printed before 2005 lacks some security features. The notes printed after 2005 have effective security features. This has helped in curbing the menace of fake currency.
On January 22, the RBI had announced it would withdraw from circulation all such notes from April 1 and the public was advised to approach banks to exchange such notes. Since then Reserve bank has cleared out 144.66 such notes valued at Rs. 52,855.
How to recognize?
It is very easy to recognize the currency notes printed before and after 2005. The notes that are printed before 2005 don’t have the year of printing on it, but in notes printed after 2005 have years printed on it. The deadline for exchanging the pre-2005 notes is January 1, 2015. After the deadline also people can exchange the currency notes but they need to submit their ID proof.
The notes printed before 2005 lacks some security features. The notes printed after 2005 have effective security features. This has helped in curbing the menace of fake currency.
On January 22, the RBI had announced it would withdraw from circulation all such notes from April 1 and the public was advised to approach banks to exchange such notes. Since then Reserve bank has cleared out 144.66 such notes valued at Rs. 52,855.
How to recognize?
It is very easy to recognize the currency notes printed before and after 2005. The notes that are printed before 2005 don’t have the year of printing on it, but in notes printed after 2005 have years printed on it. The deadline for exchanging the pre-2005 notes is January 1, 2015. After the deadline also people can exchange the currency notes but they need to submit their ID proof.
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