1000 and 500 Currency issued before 2005 will not be accepted by Banks in India | PITSTROKE

1000 and 500 Currency issued before 2005 will not be accepted by Banks in India

Monday, 28 November 20160 comments

Reserve Bank of India permitted to deposit old 500 and 1000 rupee notes, But now the banks stop accepting 1000 and 500 Currency issued before 2005.



This notes that is issued before 2005 has be withdrawn on 2014. and these notes can be exchanged from bank till June 30th 2014, later it was extended to June 30th 2016. even though it was extended it can be only done through reserve bank office. 

But the people cannot utilize this opportunity, question related to the note withdrawal and exchange was pointed in the RBI website FAQ section but the Banks denied the same in accepting old notes. 
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