Question : What was the Reserve Bank of India's (RBI) deadline to exchange pre-2005 currency notes of Rs. 500 and Rs. 1,000 as announced in 2015?
Option 1: January 1, 2015
Option 2: December 31, 2015
Option 3: April 1, 2015
Option 4: March 31, 2015
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Correct Answer: January 1, 2015
Solution : The correct option is January 1, 2015 .
The Reserve Bank of India (RBI) had set a deadline of January 1, 2015, for the exchange of pre-2005 currency notes of Rs. 500 and Rs. 1000 denominations, but later it was extended to June 30, 2016. After this date, these notes could only be exchanged at specific RBI branches.
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