Note Exchange- Many times it happens that the notes kept in pockets or purses get torn, or get spoilt by accidentally getting wet in water. Now the question arises whether such torn notes will be accepted or not? And if not, then how to get them replaced? Let’s find out…
Will a torn note be accepted or not?
If the note is slightly torn, i.e. one corner is slightly torn, but the number and design are clearly visible, then such a note can be used in the market. Shopkeepers or auto drivers can also accept it. But if the note is torn too much, split into two pieces or any part of it is missing, then it becomes difficult to use that note.
What to do if you want to exchange a torn note?
If you have a very torn or damaged note, you can get it replaced by going to any nearby bank. As per RBI rules, banks are allowed to replace torn notes after checking their condition. You can change the note by going to any government or private bank branch. The bank employees look at the condition of the note and put it in the ‘mutilated’ or ‘soiled’ category and give you a new note accordingly.
keep these things in mind
- The numbers on both sides of the torn note should be clear.
- The note must not be fake otherwise the bank will not accept it.
- If the note has two parts, take both the pieces with you.
- Do not use tape or staples on the note.
Is there any charge for exchanging torn notes?
No, banks do not charge any fee for changing torn notes. This service is free. You can directly go and deposit the note and get a new note in return. However, you can change a torn note only physically i.e. by going to the bank, you cannot change it online. So next time if your ₹ 10, ₹ 100 or ₹ 500 note gets torn, then there is no need to panic, go and change it with the help of the bank.
