Do you also have old and mutilated notes, which no one is taking. Along with this, if you are afraid of loss due to these currency notes, then this news is of your use. Now you will not have to go round the Reserve Bank of India to exchange notes.
RBI has issued these instructions
The Reserve Bank of India has issued a new guideline for all banks operating in the country. According to this, now any person can go to any bank branch and replace old mutilated notes. Apart from notes, coins can also be exchanged. These coins will be in the range of 50 paise to 20 rupees which are in circulation in the market.
What is the definition of a torn note
According to the bank, the note which has been completely damaged or torn in two, and adding it, shows all the features of the note, it will be exchanged. There will be no charge from customers for this.
Customers can take new notes by depositing such notes at the bank counter. At the same time, banks will not give such notes in public and they will be deposited in the bank’s currency chest and later sent to RBI. At the same time, banks can also give 1 and 2 rupees coins to customers in 100 packets.