Many times, when paying for any item or service in the market, shopkeepers refuse to accept the note due to it being mutilated or damaged. Because of this you have accumulated mutilated and spoiled notes. So you don't need to take tension. You can easily change your mutilated notes, about which we are going to tell you in this report.
Let us tell you, such notes can be easily exchanged in the bank. In return, the bank replaces your bad note except under certain conditions. For this, circulars are also issued by RBI from time to time.
Where can you exchange notes?
You can easily exchange notes by visiting your nearest bank branch or RBE office. Banks cannot deny this. However, a limit has been set for this. According to RBI rules, a person can exchange only a maximum of 20 notes at a time. Also, their value should not exceed Rs 5000.
These notes do not change
The bank always checks the condition while exchanging notes. If the note is deliberately torn, completely burnt, and broken into more pieces, it cannot be replaced. Such notes can be deposited in the issuing office of RBI only. To get more information related to note exchange, you can give a missed call to RBI helpline 14440.
What to do if you get a bad note from an ATM?
If a bad note is taken out while withdrawing money from an ATM. You have to go to that bank (which has an ATM). You will have to go there and write an application and give information related to the transaction by putting in an ATM slip. If the slip has not been issued from the ATM, then you can also give the details of the SMS received on the mobile, after which the note will be easily changed.
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