The Reserve Bank of India (RBI) granted additional nine months for the public to exchange currency notes printed before 2005, of Rs500 and Rs1,000 denominations, and set a deadline of 1 January 2015, reports PTI.
It clarified that the public ‘can continue to freely use these notes’ for transactions and can unhesitatingly receive these notes in payment as all such notes remain legal tender.
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Postal bank savings account-holders in Delhi can now avail ATM services as India Post launched automated teller machines (ATMs) at two locations. Delhi will get 86 more ATMs by the end of March 2014 and around 600 by 2015. India Post will open 2,800 more ATMs by March 2015 as part of its core banking system (CBS) project, reports PTI. India Post has connected about 6.4 million savings accounts across seven states—in select branches with CBS.