RBI decided to withdraw Currency notes issued before 2005

The Reserve Bank of India (RBI) has decided to withdraw all currency notes issued prior to 2005 from circulation on 21 January 2014.

Banks will be providing exchange facility to the general public from 1st April 2014.

Important to Note :

Notes issued before 2005 do not have year of printing on the reserve side.

The move by the RBI is to capture the money flows into the system and also to help flush out counterfeit notes.