Tuesday, February 24, 2015

Soiled and Mutilated Notes

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Soiled Notes
Soiled notes are those notes - 
  • became dirty
  • slightly cut
  • in the denomination of Rs. 10 and above, which are in two pieces. However, the cut should not pass through the number panels
Soiled notes can be exchanged at -
  • counters of public sector bank (PSB) branch
  • currency chest branch of a private sector bank
  • Issue office of RBI
Note that, there is no need to fill any type of form to exchange Soiled Notes. Also note that the exchange is in full value, meaning you will get the whole amount of the soiled note in exchange.

Mutilated Notes
Mutilated notes are those notes -
  • are in pieces (more than two)
  • essential portions are missing. Essential portions are - name of issuing authority, guarantee, promise clause, signature, Ashoka Pillar emblem / portrait of Mahatma Gandhi, water mark
Mutilated notes are exchanged at the same places described above (for Soiled notes), without filling any type of form

However, note that the exchange value can be in full or part, according to RBI (Note Refund) Rules. (depending on the mutilation of the notes, you will get the value)

Also, there is another exchange facility for mutilated notes, referred to as Triple Lock Receptacle (TLR). (Put the mutilated notes in a TLR cover along with details, and deposit it in the TLR box at RBI Issue Office. Amount will be returned by means of a bank draft or pay order). 

Excessively Soiled, Brittle, Burnt Notes
Notes which have become excessively soiled, brittle, or burnt can be exchanged only at Issue Office of RBI. (need to approach to the Officer-in-charge of the Claims Section, Issue Department of RBI).

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Happy learning!

1 comment:

  1. Nice Post, i appreciate your efforts. Looking for more updates from your side. Thanks
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