Subsequent to its advisory dated January 22, 2014 and as noted in our earlier post, RBI has extended the date for exchanging pre-2005 bank notes from March 31, 2014 to January 1, 2015. RBI has also clarified that public can continue to freely use these notes for any transaction as such notes continue to remain legal tender.
Exchange of notes - experience
While there has been minor hiccups while exchanging the notes with banks,carrying the printout of RBI's press release shall be handy at the time of exchange of notes. Though the release says that there is no need to provide any details of depositor nor to have banking account with the bank where one is exchanging the pre-2005 notes, few banks are refusing to exchange the money and mandating to deposit the same in the account.
Where you able to exchange pre-2005 bank notes without any hassle? Did your bank refuse to exchange the notes and mandated you to deposit the money in your account? Kindly share your experiences in the comment section below.
Exchange of notes - experience
While there has been minor hiccups while exchanging the notes with banks,carrying the printout of RBI's press release shall be handy at the time of exchange of notes. Though the release says that there is no need to provide any details of depositor nor to have banking account with the bank where one is exchanging the pre-2005 notes, few banks are refusing to exchange the money and mandating to deposit the same in the account.
Where you able to exchange pre-2005 bank notes without any hassle? Did your bank refuse to exchange the notes and mandated you to deposit the money in your account? Kindly share your experiences in the comment section below.
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