Damaged Notes Exchange: Currently 102050100 and 500 rupee notes are used. These notes are made from a particular type of paper. Due to the formation of paper, they are the highest fear of being cut or spoiled. If the note on your pocket is bad then it can be easily changed. Despite increasing digital payment, transactions are still done at many places with notes. We still use notes for everyday needs. These notes are made by paper only. Therefore, the chances of its malfunction increase. Cutting or burn notes can be converted into any bank. It is not necessary that you have an account or account in that bank. If the condition of notes changing between 50 and 500 rupees is worse, then you will have to pay or fee for changing it.
Which notes can be replaced?
According to the Reserve Bank of India, if the note does not have much malfunction. The note is in a good situation. So they are placed under Soled Note. These notes can be easily changed by going to a bank. There will be no charge or fee for this.
Notes whose condition is slightly worse, is kept in a mutilated Note category. The bank changes such notes only after investigation. These include notes in them, in which important information can be clearly seen even after bad.
If the status of notes is quite bad. If they are badly burnt or torn, they can refuse to change them any bank.
How many notes can change?
According to the RBI rule, any person can change the note only up to Rs 5000 at a time. At the same time, the amount of notes should not be more than 20.
What to do when the bank refuses?
The RBI rule says that no bank can assume from changing the note. If any such bank does, then you can complain to RBI about this.