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Indian currency notes printed before the year 2005 becomes invalid after 31st March

 

Reserve Bank of India announced that the Indian currency notes issued earlier to the year 2005 will not be valid after 31st March. RBI has taken this step only to prevent counterfeit notes. According to the RBI press release issued today, all the Indian currency notes issued before the year 2005 will be withdrawn after 31st of March. People can exchange such notes with the bank from April 1st. RBI announced the currency notes without the year printed on the back side can also be exchanged. People who want to exchange more than 10 notes of Rs.500 or Rs.1000 and not a customer of that particular bank, can provide ID proof or residential proof and get the notes exchanged. RBI has taken this measure to prevent the circulation of counterfeit notes and to control the flow of black money.

 
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