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RBI CIRCULAR
RBI CIRCULAR
Withdrawal of all old series of 3 of our circular DCM (Plg) No. G-17/3231/10.27.00/
Banknotes issued prior to 2005 2013-14 dated January 23, 2014 remains unchanged.
RBI/2015-16/275 4. Please acknowledge receipt.
DCM (Plg) No.G-8/2331/10.27.00/2015-16 Yours faithfully,
(Uma Shankar)
The Chairman / Managing Director / Chief Executive Officer Principal Chief General Manager
All Scheduled Commercial Banks
Primary (Urban) Co-operative Banks / RRBs Special Deposit Scheme 1975 -
Madam / Sir, Payment of interest for the calendar
1. On a review of the matter, it has been decided to year 2015
extend the date for exchanging the pre- 2005 banknotes RBI/2015-16/274
to June 30, 2016. However, from January 01, 2016,
such facility will only be available at identified bank DGBA.GAD. No. 2023/15.01.001/2015-16
branches and Issue Offices of RBI. These instructions
have been included in a Press Release dated December The Chairman & Managing Director
23, 2015. Head Office
Government Accounts Department
2. You are advised to facilitate the exchange of such notes
without causing any inconvenience to the public, State Bank of India / State Bank of Patiala / State Bank of
whatsoever. These notes will retain their legal tender Bikaner & Jaipur / State Bank of Travancore / State Bank
status. of Hyderabad / State Bank of Mysore / Allahabad Bank /
Bank of Baroda / Bank of India / Bank of Maharashtra /
3. Suitable instructions may be issued to all your identified Canara Bank / Central Bank of India / Corporation Bank /
bank branches to provide exchange facilities to Dena Bank / Indian Bank/ Indian Overseas Bank / Oriental
members of public and to stop re-issue of the pre- 2005 Bank of Commerce / Punjab National Bank / Syndicate Bank
series banknotes. In this regard, you may please refer / UCO Bank / Union Bank of India / United Bank of India
to the list of dos and don'ts enclosed with our circular
dated March 03, 2014. Please also ensure that such Dear Sir,
notes are not dispensed through the ATMs / over your 1. In this connection, we advise that interest for the
counters. The methodology to be followed for dealing
with the Pre-2005 series banknotes contained in Para calendar year 2015 may be promptly disbursed to the
46 | 2016 | FEBRUARY | BANKING FINANCE
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