Reserve Bank on Wednesday extended the deadline
for exchanging pre-2005 currency notes of various denominations, including Rs
500 and Rs 1,000, by another six months to June 30, 2016.
The Reserve
Bank had, in June 2015, set the last date for public to exchange pre-2005
banknotes notes as December 31, 2015.
"RBI,
on a review, decided to extend the date for the public to exchange their
pre-2005 banknotes till June 30, 2016," it said in a statement.
However, RBI added that from January 1, 2016,
such facility will only be available at identified bank branches and Issue
Offices of the Reserve Bank.
Soliciting
cooperation from members of public in withdrawing these bank notes from
circulation, RBI has urged them to exchange pre-2005 bank notes at the
identified bank branches or Issues Offices of the Reserve Bank, convenient to
them.
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.
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