TaxTMI 
TaxTMI 
RBI extends the date for exchanging Pre-2005 banknotes to January 01, 2015
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....BI extends the date for exchanging Pre-2005 banknotes to January 01, 2015 <br>News and Press Release<br>Dated:- 4-3-2014<br><BR>Following its Press Release of January 24, 2014, the Reserve Bank of Ind....
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....ia has extended the date for exchanging the pre-2005 banknotes to January 01, 2015. It has also advised banks to facilitate the exchange of these notes for full value and without causing any inconveni....
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....ence whatsoever to the public. The Reserve Bank solicits the cooperation of the public in withdrawing these notes from circulation by exchanging them at a bank branch convenient to them. This withdra....
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....wal exercise is in conformity with the standard international practice of not having multiple series of notes in circulation at the same time. A majority of such notes have already been withdrawn thro....
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....ugh the banks and only a limited number of notes remain with the public. The Reserve Bank clarifies that the public can continue to freely use these notes for any transaction and can unhesitatingly r....
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....eceive these notes in payment, as all such notes continue to remain legal tender. The Reserve Bank will continue to monitor and review the process so that the public is not inconvenienced in any mann....
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....er. Alpana Killawala Principal Chief General Manager<BR> News - Press release - PIB....