There was a time when all transactions were done through cash, as no other option existed. Whether to buy an item worth Rs 10 or worth thousands, people seemed more dependent on cash. But now the time has changed and now people are making more online payments. Like- from the UPI app. Then whether it is to buy an item worth one rupee or thousands and lakhs, people are seen using online payment more. But this does not mean at all that people no longer keep cash at all. Now things have become easy, so people withdraw money from ATMs when needed. But just think what would you do if mutilated notes came out from the ATM? Perhaps, you do not know about this, but know here that you can exchange these notes from the bank. You can learn about it in the next slides...
RBI rules about this
The Reserve Bank of India i.e. RBI has clearly stated in a guideline that all banks (government and private) will exchange mutilated or dirty notes without any hassle in every branch. If the bank refuses to exchange the note dispensed from the ATM, appropriate action can be taken against it. Apart from this, there is also a provision of penalty, under which a fine of Rs 10,000 can also be imposed on the bank.
Here is the way to exchange mutilated notes:-
Step 1
First of all, check whether you have got mutilated notes from the ATM, if yes, then you have to go to that bank in whose ATM you have got bad notes.
Step 2
You have to go to the bank and write an application
In this, you have to write that from which ATM and how much money you have withdrawn, how many mutilated notes have come, that is, you have to give complete information.
Step 3
You will have to attach the ATM slip with the written application
If it is not a slip, then you can also paste a copy of the money debited message on the mobile.
After this, your mutilated notes are replaced.
(PC: iStock)
