Torn, Soiled or Mutilated??
2016-12-28 Wed
Trying to keep enough money in our pockets is something we all are struggling with always. And if we are stuck with some torn or soiled notes then it gets very difficult to palm off such notes!Here’s how you can distinguish between your torn notes and what you can do if you are stuck with such notes:
The Reserve Bank of India (RBI) has proper guidelines, namely note refund rules. Banks refund your torn note according to those rules.
1) Soiled Note: It’s when the banknotes become dirty due to normal wear and tear or when two pieces belonging to the same note are pasted together in such a way that they form the entire note with no essential features missing.
Exchange Rules: Such notes can be exchanged for full value over any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the Reserve Bank of India.
2) Mutilated Notes: A mutilated note is a banknote of which a portion is missing or which is composed of more than two pieces.
Exchange Rules: These notes can be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form. For the denominations of INR 5/10/20, you get the full value back as per the RBI’s note refund rules.
3) Extremely brittle, burnt, charred, stuck-up notes: As per the RBI rules banks are not permitted to accept such notes for exchange! However, you can exchange such notes only at Issue Office of the RBI. Persons holding such notes may approach the Officer-in-charge of the Claims Section, Issue Department of the Reserve Bank for this purpose.
Next time handle your currency notes with care! Avoid stapling notes or writing on them, you or someone else may lose out on the money!
Latest News
-
Very Rare Gold Mohur of Mughal Ruler Alamgir II, sold for INR 1,50,000
2024-05-04 SatMirza Aziz-ud-Din Muhammad, also known as Alamgir II, ruled the Mughal Empire from 1754 to 1759. <br...
-
Agra Mint of Muhammad Akbar
2024-04-30 TueAla al-Din Masud Shah was the ruler of the Delhi Sultanate from 1242 CE to 1246 CE (AH 639-644). Dur...
-
Raja Ravi Varma
2024-04-29 MonOn 29th April 1848 Raja Ravi Varma, a famous classical painter, and great Indian Artist, was born in...
-
Panchala King Bhanumitra Copper Coin
2024-04-26 FriThe Panchala kingdom was ruled by the Mitra kings. The Mitra kings are known to issue coins and most...
-
Mahatma
2024-04-25 ThuIndia Post issued a commemorative postage stamp on #LalaHansraj, also known as Mahatma Hansraj for�...