You will have old mutilated notes, apart from this, while shopping in the market, mutilated notes come in hand by mistake and old or mutilated notes are the oldest way to reach you. It is the same, putting torn notes in the bundle and running it in the market.
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Now the biggest problem is where to change these bad notes. So today we are telling you how to change notes in the bank. Here you can exchange notes up to the specified limit without any commission. Just know this rule.
Which notes can be exchanged?
RBI has made some rules regarding changing the notes, such as the signature of the RBI Governor, Gandhiji’s watermark and serial number should be visible on the note. If these security standards remain on the note, then the bank cannot refuse to exchange the note. If you have torn notes of 5, 10, 20 or 50 rupees, then it is necessary to have at least half of these notes. If this does not happen then these notes cannot be changed. If the number of torn notes is more than 20 and their value is above 5 thousand rupees, then you will also have to deposit some fee to change the note.
Can a note in multiple pieces be exchanged?
If you have notes in several pieces, they can also be exchanged. Although the process of changing them is a bit complicated. These notes have to be sent to the Reserve Bank branch through post. Along with this, you have to provide your bank account number, branch name, IFSC code information.
Which notes cannot be exchanged?
The note which is broken into pieces or the note is burnt, then that note cannot be changed in any ordinary bank. If you want to change such notes, then you will have to contact RBI directly. Even if slogans or political messages are written on the notes, the bank does not change that note. Apart from this, if the bank official feels that the note has been deliberately torn or cut, then in such a situation the bank may refuse to exchange the note.
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