India’s central bank RBI (Reserve Bank of India) plans to withdraw all currency notes printed prior to 2005 from April 1 .May be this news makes some panic situations among the citizen of india but the RBI has appealed to the public not to panic. But in a deeper insight it will be a great move against India’s all time enemy Black money , and also it is one of the noble process against fake notes.
RBI says that people can exchange their old notes at retail banks and the notes that issued after 2005 will continue to be legal.banks are required to exchange the notes for their customers as well as for non-customers. From July 01, 2014, however, to exchange more than 10 pieces of `500 and `1000 notes, non-customers will have to furnish proof of identity and residence to the bank branch in which she/he wants to exchange the notes.
How to identify Indian currency notes that issued/Printed before 2005 (RBI withdraws Pre-2005 currency notes)
After March 31, 2014, the RBI (Reserve Bank of India)will completely withdraw from circulation all bank notes (10, 20, 50, 100, 500 and 1,000 rupee notes) issued before 2005.Such a news will surely create tension in people .In such a condition everyone’s mind has this question .. How to identify Indian currency notes that issued/Printed before 2005 ?
The Answer is…
It is very easy to identify Currency notes prior to 2005 .The notes issued before 2005 do not have the year of printing on the reverse side — at the bottom centre,and the notes issued after 2005 have the year of printing on the reverse side at the bottom centre
Check the pictures
After March 31 the currency notes that printed before 2005 is not valid . It is valid only in banks,that means after march 31 2014 you can exchange the old currency notes only through banks.Anyone can easily exchange the old currency notes there is no need for a particular bank account.But there is an important point to remember that is, if you want to exchange 10 or more currency notes of Rs 500 or Rs 1000 you need to submit your id proof and residential proof otherwise you are an account holder of that particular bank.RBI already gave the essential instruction to the banks for helping peoples in the matter of old currency exchange.So it will never be a big task for ordinary people.