If you have torn-bad rupee notes of your work , know RBI rules, you will be in advantage
If you also have torn, torn or old notes, know the rules for exchanging such notes
- Every branch of every bank will give you a torn or old replacement
- A note which is divided into two pieces is called a soiled note
- A note with more than two pieces is called a mutilated note
All of us will also have torn, old and taped notes because we don't know who will exchange these money. The rule for our old or torn notes is decided by the Reserve Bank of India. Know these rules
Every branch of every bank has to exchange torn notes
, any bank will exchange old notes, but there is a limit to how many notes can be exchanged side by side. That is 20 notes or 5 thousand rupees. If there are more notes or money than this limit, the bank will give you a receipt and after a few days the money will be credited to your account. But if you want to change more than 20 notes or 5 thousand rupees, then the bank can also charge you.
Which type of note will the bank exchange?
1. Soiled notes
A soiled note means an old, torn, frayed or frayed note that has been torn into pieces but must be in two pieces. Both these pieces should be of the same note. Banks exchange such notes. Every note should have security features.
2. Mutilated notes
A mutilated note means a note in which a part is missing or a note which has been broken into more than two pieces. If we are going to exchange such a note, suppose we have to exchange a note of less than 50 rupees, then if any piece of it is 50% or more in size, the bank will exchange the note to you. But if the largest piece is less than 50% in size, your claim will be rejected. If a note of more than 50 rupees is to be exchanged, the largest piece should be 80% or more in size. If the largest piece of the note is between 40 and 80 percent, we will get back only 50 percent of the money. If the largest piece is less than 40 percent in size, we will not get a single rupee back.
Banks will not exchange any notes
- Very burnt notes
- Notes that break on standing
- Notes stuck together
- A separate process has to be followed for such notes, which not all banks can do. That is why one has to go to the issue office of Reserve Bank of India to exchange such notes.
