New Delhi: Did you try to withdraw ATM cash and one of the notes in the bundle was a torn or tattered note? Or did someone smartly try to pass off a brittle note and you accepted it inadvertently? If that happened, don't spend your time worrying as to how you can trick others into accepting the same from you. Instead, follow these guidelines as issued by the Reserve Bank of India.


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As per RBI, a mutilated note is a note of which a portion is missing or which is composed of more than two pieces. Mutilated notes may be presented at any of the bank branches. The notes so presented shall be accepted, exchanged and adjudicated in accordance with Reserve Bank of India (Note Refund) Rules, 2009.


RBI has mandated that all branches of banks in all parts of the country are mandated to provide the following customer services to the people so that there is no need for them to approach the RBI Regional Offices for this purpose:


(i) Issuing fresh / good quality notes and coins of all denominations on demand.
(ii) Exchanging soiled / mutilated / defective notes (Small Finance Banks and Payment Banks may exchange mutilated and defective notes at their option).
(iii) Accepting coins and notes either for transactions or exchange.


What to do with mutilated Indian currency notes?


Currency notes which are in pieces and/or of which the essential portions are missing can also be exchanged. Essential portions in a currency note are name of issuing authority, guarantee, promise clause, signature, Ashoka Pillar emblem/portrait of Mahatma Gandhi, water mark. Refund value of these notes is, however, paid as per RBI (Note Refund) Rules. These can also be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form.


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