Reserve Bank of India(RBI)Decides To Withdraw Currency Notes Issued Before 2005 Wednesday Jan 22,2014

The Reserve Bank of India(RBI)today Wednesday Jan 22,2014 decided to withdraw all currency notes issued prior to 2005, including Rs. 500 and Rs. 1,000 denominations, after March 31,2014 in a move apparently aimed at curbing black money and fake currencies.

"After March 31, 2014, it (RBI) will completely withdraw from circulation all bank notes issued prior to 2005.

 From April 1, 2014, the public will be required to approach banks for exchanging these notes," the RBI said in a statement.

From July 1, 2014, persons seeking exchange of more than 10 pieces of Rs. 500 and Rs. 1,000 notes will have to furnish proof of identity and residence to the bank

Note
The public can easily distinguish the currency notes issued before 2005 as they do not have the year of printing on reverse side.

The year of printing in a small font is visible at the middle of the bottom row in notes issued after 2005