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RBI routinely puts through shredder pre-2005 bank notes: Minister

By TIOL News Service

NEW DELHI, JULY 26, 2014: IN January, 2014 Reserve Bank of India (RBI) had announced the decision to withdraw from circulation all currency notes printed prior to 2005 by March 31, 2014. On March 03, 2014 RBI extended the date of exchanging the pre-2005 bank notes to January 01, 2015. The aggregate number of bank notes of Rs. 100, 500 and 1000 denominations of pre-2005 series, shredded in the Regional Offices of RBI from January 2014 to June 2014 are as under:

Denomination

No. of pieces

Amount (Rs.)

Rs. 100

30,10,60,606

30,10,60,60,606

Rs. 500

10,98,98,954

54,94,94,77,000

             Rs. 1000

              6,18,30,724

61,83,07,24,000

RBI has already been withdrawing bank notes printed prior to 2005 from the market in a routine manner through banks. The withdrawal of pre-2005 bank notes has been going on smoothly.

This information was given by the Minister of State for Finance, Ms. Nirmala Sitharaman, in written reply to a question in Lok Sabha yesterday.


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