Pre-2005 and MG-series Banknotes

The Reserve Bank of India (RBI) introduced Mahatma Gandhi series (MG series) banknotes in denominations ranging from Rs 10 to Rs 1000 in 2005. Banknotes from the pre-2005 series were issued before the 2005 MG series.

How To Recognize Pre-2005 Notes?

The year of production is printed in the bottom center section of currency notes manufactured after 2005. Notes printed before 2005, on the other hand, do not contain the year of printing on the reverse side and may therefore be clearly identified. This indicates that if your currency does not have the year of printing on the reverse side, it should be exchanged at a bank. However, notes issued before 2005 will remain legal money and will only be withdrawn from circulation.

Best Way to Exchange Old Currency

Banks are no longer permitted to re-issue pre-2005 series notes over the counters or through ATMs and are instead encouraged to transfer them to the Reserve Bank of India. All public and private sector banks will exchange the notes for free, whether they are clients or not. If you are a non-customer, be sure to bring your PAN card with you. Individuals can have the money credited to their bank account or carry cash in exchange.

RBI to withdraw pre-2005 series banknotes

The Reserve Bank of India will eliminate banknotes from the pre-2005 series. The Reserve Bank of India decided to remove all banknotes produced previous to 2005 from circulation because they had fewer security measures than banknotes manufactured after 2005. The withdrawal exercise is in accordance with customary international practice, which states that numerous series of notes should not be in circulation at the same time.

MG Series Banknotes

The Reserve Bank of India issues the Mahatma Gandhi New Series of banknotes as legal currency for the Indian rupee -. This was supposed to be a replacement for the Mahatma Gandhi Series of banknotes that were printed before 2016. It was announced on November 8, 2016, after the demonetization of the original Mahatma Gandhi Series 500 and 1000 banknotes. The front of the Mahatma Gandhi New Series banknotes, like the previous series, prominently shows Mahatma Gandhi’s picture. The Swachh Bharat Abhiyan logo is also imprinted on the reverse of these series’ banknotes.

The following are the security characteristics of the Mahatma Gandhi New Series banknotes:

• Transparent registration device
• Inventive numbering
• The latent image
• The denominational numeral pattern
• Intaglio printing 
• Intaglio printing 
• Angular lines
• Windowed security thread.

Conclusion

We learned about MG series 1995 banknotes, MG series 1996 banknotes, MG series banknotes, and other related topics related to Pre-2005 and MG-series Banknotes.

In 2005, the Reserve Bank of India (RBI) issued Mahatma Gandhi series (MG series) banknotes in values ranging from Rs 10 to Rs 1000. Pre-2005 series banknotes are banknotes released prior to the 2005 MG series. The Reserve Bank of India has announced that it would remove all currency notes issued before 2005. The withdrawal date has been extended to December 31, 2015, from June 31, 2015.