RBI Rules- Has your note torn into four pieces, know how to change it

If we talk about money, then it has become very important for living today, without it none of your work can be done, many times we get torn notes, which is a matter of disappointment, because torn notes are rejected by shopkeepers, due to which we are unable to use them for shopping. It is easy to throw away torn notes considering them useless. But do you know that you can change them from any bank, let's know about them

1. Go to the bank for withdrawal

If you have torn notes withdrawn from the ATM, then you should go to the bank whose ATM is owned by the same ATM from which you got the notes. This is the first step of the process.

2. Write an application

After reaching the bank, you have to submit an application requesting to change the torn notes. In the application, make sure to include the following details:

The date, time, and location of the ATM from which you withdrew money.

The slip was received at the time of withdrawal (if you still have it). If you don't have the physical slip, you can also provide the transaction details from the SMS alert sent to your phone.

3. Submit torn notes Along with your application, you need to submit the torn notes you want to exchange. If everything is okay, the bank will process the exchange and give you new notes of the same value.

4. Exchange limits You can exchange up to 20 torn notes at a time, but there is an important limit: the total value of the notes cannot exceed ₹5,000.

5. What if the bank refuses? If the bank refuses to exchange torn notes, you have the right to file a complaint with the banking regulator, the Reserve Bank of India (RBI).

6. When you can't exchange torn notes

Please note, that not all torn notes can be exchanged. If your notes are severely damaged, such as burnt or mutilated beyond recognition, you cannot exchange them at the bank.