Reserve Bank of India(RBI)Extends the date for the public to exchange their pre-2005 bank notes till June 30, 2016

 

Reserve Bank of India(RBI)on Wednesday Dec 23,2015 extended the date for the public to exchange their pre-2005 bank notes till June 30, 2016

 

However, from January 01, 2016, such facility will only be available at identified bank branches and Issue Offices of the Reserve Bank. The Reserve Bank had in June set the last date for public to exchange pre-2005 bank notes notes as December 31, 2015

Over 164 crore pre-2005 currency notes of various denominations, including of Rs 1,000 were shredded in regional offices of Reserve Bank in 13-month period ending January, as per official data.

The face value of the shredded currency notes was around Rs 21,750 crore.

As many as 86.87 crore pieces of Rs 100, 56.19 crore pieces of Rs 500 and 21.75 crore pieces of Rs 1,000 were shredded.