2017-05-03 Wed

As per an official notification released by the RBI on 25th April 2017, bank branches around the country cannot stop accepting banknotes which are scribbled, coloured or faded. Members of the general public had complained to RBI that bank branches were refusing to accept slightly damaged notes, particularly the newly introduced INR 500 and INR 2000 notes.

On 31st December 2013, a notification was released by RBI, requesting the general public and bank officials to avoid scribbling or writing on banknotes as it violates the Reserve’s Bank Clean Note Policy. After this notification was released, the public started complaining that bank branches are refusing to accept soiled notes.

Through the latest notification, it has been clarified that bank branches which do not accept soiled notes are liable for punishment.