India is pulling older rupees from circulation in a move designed to tackle the growing problem of counterfeit money.
In a statement issued Thursday, the Reserve Bank of India said it will withdraw all banknotes issued before 2005 from the banking system by March 31. Banks will have to exchange the affected bills when requested.
A spokesperson for the central bank, Alpana Killawala, told CNN the move will help feed newer and more secure banknotes into the financial system.
"There are many new features that didn't exist in those old notes," Killawala said. The central bank has called on the public "not to panic" and emphasized the affected banknotes are still legal tender.