The Reserve Bank of India has extended the date to exchange pre-2005 bank notes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation in withdrawing these bank notes from circulation, the RBI has urged people to deposit the old design notes in the bank accounts or exchange them at a bank branch. The Apex Bank has stated that the notes can be exchanged for their full value. It has also clarified that all such notes continue to remain legal tender.Explaining the move, the Reserve Bank said that the bank notes in Mahatma Gandhi series have now been in circulation for a decade. A majority of the old banknotes have been withdrawn through bank branches. It has, therefore, decided to withdraw the remaining old design notes from circulation. The RBI has pointed out that not having currency notes in multiple series in circulation at the same time is a standard international practice. The RBI will continue to monitor and review the process so that the public is not inconvenienced in any manner.