Summary: Issuance of a redesigned banknote in the Mahatma Gandhi (New) Series with the Governor's signature, year of printing and a logo on the reverse; the note differs from the earlier series in colour, size and security feature placement and includes tactile and visual elements to assist visually impaired persons.
Summary: The notification withdraws the legal tender character of specified high denomination banknotes and permits exchange at RBI issue offices, bank branches and designated post offices; cash payment is limited per person while amounts exceeding that ceiling are to be credited to bank accounts. Banks will accept deposits including via cash deposit machines and recyclers; electronic payment channels are encouraged. Representatives may tender notes with written authorization and valid identity proof. A time limited exchange window is established with a subsequent RBI facility for late exchanges subject to documentation.
Summary: Withdrawal of legal tender status for specified banknotes requires holders to tender them at Reserve Bank offices or bank branches for credit or limited over the counter exchange on production of valid identity; credited funds may be used by cheque or electronic transfer while cash withdrawals and ATM dispensation are temporarily subject to prescribed daily and weekly limits, with ATMs recalibrated and an extended facility for late deposits to be provided at designated Reserve Bank locations.
Summary: Withdrawal of legal tender for specified high-denomination notes required banks to prioritise exchange/deposit services through branches until 30 December 2016, recall the notes from ATMs and service providers, suspend issuance, reconfigure cash machines, provide public information, equip counters for counterfeit detection, and submit returns and daily reports to Reserve Bank offices while observing procedural conditions for exchanges, KYC-linked deposit limits, third-party credits on authorisation, Business Correspondent limits, and temporary cash withdrawal and ATM dispensing ceilings.
Summary: The Central Government declared Rs. 500 and Rs. 1000 notes to cease being legal tender from 9 November 2016 and set out procedures: banks and treasuries must report holdings and remit specified notes to currency chests or RBI; public may exchange specified notes at RBI Issue Offices and bank branches up to 30 December 2016 subject to documentation and limits; deposits to bank accounts may be credited without limit except where KYC is incomplete (cap Rs. 50,000); cash withdrawal and ATM limits, temporary bank closures, recall of notes from machines, and daily reporting by banks to the Reserve Bank were mandated.
Summary: Withdrawal of Legal Tender status for specified high-denomination Mahatma Gandhi series banknotes permits holders to tender such notes at Reserve Bank offices or bank branches for value credited to bank accounts, with a limited over-the-counter cash exchange available upon presentation of valid identity. Credits may be used by cheque or electronic transfer; cash withdrawals and ATM disbursements are subject to temporary quantitative restrictions pending recalibration. The public is referred to official RBI and government websites for details.
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