RBI asks public to start exchanging pre-2005 currency notes

January 24, 2014 17:49

The Reserve Bank has advised the public to start exchanging pre-2005 notes at banks, saying the volume of such notes that are being withdrawn from circulation is 'not significant.'

"Members of public may initiate the process of exchanging notes at bank branches at their convenience," the RBI said in a statement today.

The removal of older currency notes from circulation is a standard international practice, the RBI said.

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