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RBI does not accept old notes

RBI

Bhubaneswar: Hundreds of people keep returning from the local Reserve Bank of India (RBI) office here  failing to deposit their old demonetised currencies of Rs 500 and Rs 1000.

Such scenes of harassment have been regularly seen in the RBI office since December 31 when the validity of the old notes to exchange at banks and post offices ended.

The Union Government had previously announced that RBIs would accept old notes till March 31 2017 but the apex banks are not accepting it.

Meanwhile the RBI has commented that the government had stipulated the deposit of old notes in the bank branches till December 30 last year so they would be useless. The exchange and deposit of notes at any other places have been stopped after government’s notification.

People allege that there is no coordination between the RBI and the government. “We are facing lots of difficulties as we are not able to exchange our notes,” said a local.

It is noteworthy to mention here that the Centre announced a sudden withdrawal of Rs 500 and 1000 notes on November 8 making them useless which was termed as demonetization. Subsequently it has issued new bills of Rs 500 and 2000.

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