What does this RBI rule cover?

Banks must not give pre-2005 notes in ATM or counter payments. Pre-2005 notes still count as money, except those stopped by the 2016 government notice.

Which earlier RBI rules does this replace?

The January 23, 2014 circular on pre-2005 notes now applies only in part. The March 03, 2014 circular on pre-2005 notes is withdrawn.

Regulatory document · Reserve Bank of India

Withdrawal of old series of banknotes issued prior to 2005: Consolidation of instructions

Applies toAll regulated entities
StatusIn force
ImportanceFOR INFORMATION
IssuedJun 09, 2026
Amendmentsnone tracked
Length10 points in 2 sections · 1 min read

The four dates on this rule

PublishedJun 09, 2026The day RBI put this document out.
Starts to applyNot statedNot stated separately in this document. Read the rule itself before you assume a start date.
Time to get readyNot statedCannot be worked out until the day it starts to apply is known.
Last date to actNot statedNo date to act by was found in this document. Other dates may sit inside single paragraphs.

This rulebook is short, and the page is short with it. This document is 961 words long. It states 10 separate rules. So the page carries 10 points, not the thirty a long rulebook carries. Nothing has been left out to make it shorter.

At a glanceBanks must not give pre-2005 notes in ATM or counter payments. From July 01, 2016 people can swap pre-2005 notes only at 19 Reserve Bank of India offices.

Official RBI page

Numbers to remember

July 01, 2016	From July 01, 2016 people can swap pre-2005 notes only at 19 Reserve Bank of India offices.
January 23, 2014	The January 23, 2014 circular on pre-2005 notes now applies only in part.
March 03, 2014	The March 03, 2014 circular on pre-2005 notes is withdrawn.
December 31, 2014	The December 31, 2014 circular on pre-2005 notes is withdrawn.
June 26, 2015	The June 26, 2015 circular on pre-2005 notes is withdrawn.
December 23, 2015	The December 23, 2015 circular on pre-2005 notes is withdrawn.
February 11, 2016	The February 11, 2016 circular on pre-2005 notes is withdrawn.
June 30, 2016	The June 30, 2016 circular on pre-2005 note exchange is still in force.

What it says

Must know

1. Where exchange allowed

From July 01, 2016 people can swap pre-2005 notes only at 19 Reserve Bank of India offices.

2. Do not reissue notes

Banks must not give pre-2005 notes in ATM or counter payments.

3. Earlier circular status

The January 23, 2014 circular on pre-2005 notes now applies only in part.

4. Some circulars withdrawn

The March 03, 2014 circular on pre-2005 notes is withdrawn.

5. More circulars withdrawn

The December 31, 2014 circular on pre-2005 notes is withdrawn.

6. Further circular withdrawn

The June 26, 2015 circular on pre-2005 notes is withdrawn.

7. Another circular withdrawn

The December 23, 2015 circular on pre-2005 notes is withdrawn.

8. 2016 circular withdrawn

The February 11, 2016 circular on pre-2005 notes is withdrawn.

9. One circular still active

The June 30, 2016 circular on pre-2005 note exchange is still in force.

Background

1. Pre-2005 notes legal

Pre-2005 notes still count as money, except those stopped by the 2016 government notice.