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Exchanging pre-2005 notes

Exchanging pre-2005 notesThe Reserve Bank of India announced that it will accept pre-2005 currency notes only at select branches from July. This is because a majority of such notes have already been surrendered by the public. The currency notes are being withdrawn because of security concerns. RBI said a major portion of the pre-2005 banknotes have been withdrawn from circulation and only a small percentage of these notes remains in circulation. The branches where these notes can be exchanged now are Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Thiruvananthapuram and Kochi. RBI also clarified that these banknotes will continue to remain legal tender.

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