Mumbai: A day after government stopped the over the counter (OTC) exchange of currency notes, the Reserve Bank of India said its designated counters will continue to accept the discarded Rs 500 and Rs 1,000 currency notes.
With this, people would be able to exchange their scrapped notes and get new currency notes at the central bank’s outlets.
“The Reserve Bank of India advises members of public that exchange of banknotes in Rs 500 and Rs 1000 denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank upto the current limits per person as hitherto,” the RBI said.
The central bank has also clarified that such exchange facility is no longer available at other banks' counters.
On Thursday, the government further extended the deadline to use old Rs 500 currency notes at select outlets as it was widely reported that people were still facing problems to avail essential services including healthcare and confronting hardships in paying for dues to public utilities.
