You also have mutilated notes, follow this process; New currency will be available without commission


Business News Desk, Many times mutilated old notes get deposited with people. In such a situation, when those notes are taken to the market, no one is ready to take them. In such a situation, if you want to get rid of these notes, then you can deposit them in the bank. Although there are rules to change these notes in the bank as well. Due to this the bank officials harass the customers and refuse to exchange the notes. In such a situation, you should know about these rules of RBI. With this, you will be able to change bank notes very easily, so let’s know about these rules and also know how notes are changed in the bank.

Can these notes be exchanged?

RBI has made rules regarding exchange of notes. Under these rules, the note must have the RBI governor’s sign, serial number and Gandhiji’s watermark. If these security standards remain on the note then the bank officials cannot refuse to exchange the note. If you have mutilated notes of 5, 10, 20 or 50 rupees, then at least half of them should be there. If these things are not there in your note, then the note cannot be changed. Apart from this, if there are more than 20 torn notes and their value is more than 5 thousand rupees, then you will have to pay some charge to the bank to change the note.

lots of notes

If you have a note that has been torn into pieces, you can replace those as well. However, the process of exchanging these notes is a bit complicated. To exchange these notes, you have to send the notes to the Reserve Bank branch. Apart from this, you will also have to provide your bank account number, branch name and IFSC code information.

Share this story

Leave a Comment