Banknotes issued prior to 2005 to be withdrawn: RBI Advisory
The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank further stated that public can easily identify the notes to be withdrawn as the notes issued before 2005 do not have on them the year of printing on the reverse side. (Please see illustration below)
The Reserve Bank has also clarified that the notes issued before 2005 will continue to be legal tender. This would mean that banks are required to exchange the notes for their customers as well as for non-customers. From July 01, 2014, however, to exchange more than 10 pieces of `500 and `1000 notes, non-customers will have to furnish proof of identity and residence to the bank branch in which she/he wants to exchange the notes.
The Reserve Bank has appealed to the public not to panic. They are requested to actively co-operate in the withdrawal process.
The US Federal Reservejust announced that its redesigned $100 bills will go into circulation on October 8. The rollout, originally planned for 2010, was delayed by production issues with the blue ribbon that’s threaded through the note.
Approximately 80% of all US currency is denominated in $100 bills. There were more than 8.2 billion Ben Franklins out in the world at the end of last year, making it the most popular bank note, by value, among the world’s major currencies..)…
New $ 100 Note.New $ 100
Security Features.
The advanced security features – the 3-D Security Ribbon and the Bell in the Inkwell
Look for a blue ribbon on the front of the note. Tilt the note back and forth while focusing on the blue ribbon. You will see the bells change to 100s as they move. When you tilt the note back and forth, the bells and 100s move side to side. If you tilt it side to side, they move up and down. The ribbon is woven into the paper, not printed on it.
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