Regulatory Alerts2026-06-09
Added · Updated
Withdrawal of old series of banknotes issued prior to 2005: Consolidation of instructions
The Reserve Bank of India consolidates instructions regarding the withdrawal of pre-2005 banknote series, confirming that these notes remain legal tender except where status was withdrawn by Government of India Notification no. 2652 dated November 8, 2016. From July 01, 2016, exchange facilities for these notes are restricted exclusively to 19 specified RBI Issue Offices. Banks are required to ensure that pre-2005 series notes are not re-issued through ATMs or over-the-counter transactions, and must instead sort and deposit such notes in currency chests under the Linkage Scheme or forward them to the nearest RBI Issue Office for disposal.
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