Exchange of old notes to continue at RBI counters

After the government puts complete ban on over-the-counter exchange of old Rs 500 and Rs 1000 notes, the RBI has issued a statement on Friday, that members of public that exchange of banknotes in ₹ 500 and ₹ 1000 denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank upto the current limits per person of up to Rs 2000.  

"The Reserve Bank of India advises members of public that exchange of banknotes in Rs 500 and Rs 1,000 denominations,whose legal tender status has been withdrawn, will continue tobe available at the counters of the Reserve Bank up to thecurrent limits per person as hitherto," the central bank saidin a statement.

During the meeting, Central Government took various decisions relating to certain operational aspects of the Scheme relating to cancellation of legal tender character of old Rs. 500 and Rs. 1,000 notes. The government took decision that will be no over the counter exchange of old Rs 500 and Rs 1000 notes after midnight of Thursday.