June 30 last day to exchange pre-2005 currency notes

Image: The Hindu Business Line

All currency notes printed before 2005 will no longer be valid after the 30th of June as it is the last day to exchange them in any convenient bank branch. 

The Reserve Bank of India has earlier extended the deadline to exchange old notes from January to June and now people are requested to cooperate with the same. The notes printed after 2005 will have the year printed on the bottom of the back side.

According to the Hindu, this is done as the notes printed before 2005 have fewer security features in comparison to them printed after that year. As per the details given in Parliament in March, 86.87 crore pieces of Rs. 100, 56.19 crore pieces of Rs. 500 and 21.75 crore pieces of Rs.1,000 were shredded, the report further states. 

All currencies will be exchanged for their full value at any bank branch and it is only a standard international practice to withdraw old currency series. 

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