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Know how to change torn or mutilated notes from bank

Mumbai:  Some time people will get damaged notes from the ATM. These notes can be easily exchanged with new notes from banks in the country.

According to Reserve Bank of India (RBI), mutilated notes can  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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There is no need to fill any form for exchanging soiled notes. Soiled notes are those which have become dirty and slightly cut. Soiled notes can 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 Reserve Bank of India.

Steps to change mutilated notes:

The customer will have to go to the bank from whose ATM the notes came out.

An application has to be written.

The customer needs to write the information about the date, time, and place from where the money was withdrawn.

After this, along with the application, the transaction-related slip from the ATM will also have to be attached.

If the slip has not been issued, then the details of the transaction received on the mobile will have to be given. After this, your notes will be changed by the bank.

 

 

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