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Here’s RBI rules and regulations to exchange damaged, torn notes

You can get your money's worth when you deposit damaged or mutilated currency notes in the following manner:

The RBI has come up with a solution to the issue of damaged and mutilated currency notes. There is good news for you if you have mutilated currency and are concerned about its usability. Anyone who has mutilated notes can exchange them at the central bank’s regional office closest to them, according to the most recent RBI guidelines.

Currency notes that have been altered can be deposited at the regional office of the central bank. Through an electronic clearing service, the mutilated notes’ value will be credited to the appropriate bank account.


Guidelines for exchanging currency notes from the RBI A defective, mutilated, or soiled bank note can be exchanged without completing a form at any public sector bank (PSB) branch, private sector bank currency chest branch, or RBI issue office. This includes notes in denominations of Rs 10 and above in two pieces.

RBI guidelines to exchange currency notes
Visit the regional office of the central bank to exchange or deposit the mutilated currency note. Place the note along with its particulars and other details in a box called a “Triple Lock Receptacle” (TLR). The information needed to deposit mutilated notes is the name, address, bank account number, and the denomination of the notes. Place the above-mentioned information and the notes inside a cover that is closed.

Conditions for depositing notes with the RBI
The face value or denomination of the notes as well as their undamaged features or labels will determine the amount received in exchange. For instance: If you deposit 44 square centimeters worth of mutilated Rs 2,000 notes, you will receive a half refund. Similarly, 88 sqcm will receive a full exchange return, 78 sqcm will receive a full refund for a portion of a torn Rs 200 banknote, and 39 sqcm will receive a half return.

The bank branches will not accept notes that are severely brittle, burned, disfigured, charred, or inseparably pieced together for the exchange facility. The payment of exchange value is not required for notes that have been intentionally torn, cut, altered, or tampered with.

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