Old notes have become unusable... How and where can you exchange mutilated notes? Learn this useful information.
We often come across mutilated or discolored notes. In such a situation, there's no need to panic. Let's learn how to exchange mutilated or discolored notes.
We often come across mutilated or discolored notes. The biggest problem is that people, whether rickshaw pullers or metro employees, refuse to accept such notes. Furthermore, sometimes torn notes are dispensed from ATMs, which can become a problem. In such a situation, there's no need to worry because you can easily exchange these notes at a bank. The RBI has established certain rules for this, called the RBI Note Exchange Policy. Under this policy, anyone can easily exchange mutilated or discolored notes at a bank or the RBI. Therefore, the RBI has established certain rules for this. So, let's learn how to exchange mutilated or discolored notes.
Which Notes Will Be Exchanged?
If you have received a torn or stained note, there's no need to worry. You can easily exchange it at the bank. So, let's explore the types of notes exchanged at the bank:
1. Torn Notes - If a part of a note is torn but its identity remains intact, the bank will exchange it immediately.
2. Damaged Notes - If a note is damaged by oil, spices, stains, chemicals, or any other type of damage, those notes will also be exchanged.
3. Severely Damaged Notes - Some notes are in very poor condition, such as burnt, very old, or completely torn notes. You can easily exchange these without any problems.
4. Washed Notes - If a note is washed in water or becomes stained, you can exchange such notes.
5. Written or colored notes - Sometimes notes have writing on them, and sometimes they are colored. Even in such cases, you can easily exchange them.
Where will the notes be exchanged?
You can exchange your old, torn, and burnt notes at the following locations:
Any government bank branch
Any private bank branch
Any currency chest branch
Any RBI issue office
Any bank, whether private or public, is required to accept torn and damaged notes under RBI regulations. If the note is in very poor condition, you will need to take it to the RBI issue office, where you will be issued exchanged notes.
