Current Buzz !

                                                                 Alert Blog !!  

    Do you know from the coming July the currency that have been issued before 2005  will be non-functional ? as said by the Reserve Bank Of India. All the notes including Rs 500 and Rs 1,000 denominations will be withdrawn. People i'm telling this just to create awareness as the main motive behind such a step is to curb black money and fake currencies.All blanks irrespective of you holding an account in it will provide you exchange facilities so kindly don't panic but just cooperate with the banks , its for the good of the nation as a  whole :)

     Now , the main complexity one could face is as how to distinguish the notes ? :O : The tactic is very simple and am sure will help you well in advance. Notes released before 2005 seem to be bizarre, they do not have year of printing on the reverse side whereas the later ones display the year printed in small font at the middle of the bottom row in notes . Here am exaggerating on minor issues to just keep you on the safe side as these matters are not so trivial.

    Last but not the least , as we know any rule that comes out these days is far away from a simple step procedure and filled with complications so one thing that i want to bring to your notice is that persons seeking exchange of more than 10 pieces of Rs 500 and Rs 1,000 notes should provide identity proof and residential proof to the bank.

     So , Go and approach the banks from April 1st,2014 as this practices aim at providing circulation of fewer designs internationally and help check the growth of counterfeit currency in the system thereby enhancing Security features.

Note: Earlier RBI had withdrawn Rs 5 notes and again brought it back in 2009 !! :D