Banks can’t turn away people depositing pre-2005 notes: RBI
The Reserve Bank of India (RBI) on Monday clarified that banks cannot turn away customers depositing pre-2005 currency notes, including the banned ₹500 and ₹1,000 notes. This comes after the central bank received queries and complaints from people about banks not accepting pre-2005 banknotes. Also, the RBI has asked banks to not reissue pre-2005 currency notes, reports added.