ithdrawal of Legal Tender Status of ₹ 500 and ₹ 1000: Exchange Facility at RBI to continue
Date : Nov 25, 2016
The Reserve Bank of India advises members of public that exchange of banknotes in ₹ 500 and ₹ 1000 denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank upto the current limits per person as hitherto. (However such exchange facility is no longer available at other banks’ counters).
Press Release: 2016-2017/1317