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As 500 and 1000 rupee note is demonetized, what will RBI do with the collected old notes?
I wanted to ask about the demonetization of 500 and 1000 rupee notes. What will RBI do with the collected old notes?
The Reserve Bank of India will take the old notes out of circulation and replace them with newly issued currency. As for the collected notes, the RBI will most likely destroy them.