Tearing is too many times accidental notes and is really headache full to use. Even shopkeepers do not accept torn notes, which also creates a headache. If you also have used notes and tried to exchange them, do not worry. Yet you can avail of the bank to get these damaged notes changed. The bank will exchange the torn note except for some conditions. Share, let us know what RBI comes up with about the bank policies for this exchange of these notes.
Bank will not refuse to change notes
These RBI rules are going to be very beneficial for the common masses. According to those, the ease of exchanging torn notes is to visit the bank or the office of RBI closest to you. Your note will change without a refusal at the bank since there is a limit set for exchanging notes with banks.
Notes worth more than this amount are transferred to the account
The limit is that a man can exchange up to 20 notes at a time and the maximum charge of the 20 notes with the same value should be not more than 5000 Rs. If 5000 RS get up to that item, it will be paid out instantly. Not more than this when you go to exchange the notes, your cash and the money is directly transferred to your accounts. There is, however, a little more time taken by banks to exchange money worth more than 50,000 RS.
This is how bad notes from ATM will be exchanged
In this regard, when the money is taken out of the ATM, some ATMs install high fault notes. In some cases you may leave these among the things you have to live, just make the following change with bad notes. You have to go to the establishment and write them a letter if your ATM falls under the same deposit allowed in countless locations.
You can display the ATM slip and the same applied for the ATM slip not coming out for some reason, make a call and first SMS as it is showing on your mobile regarding receipt of the details of the SMS on it-a reason or every evidence kind of it- and only after that, the notes got out from the ATM become changed simply.
You will get this much money on torn notes
The notes made like this an RBI also gives you the withdrawal of money by these torn notes. Besides, dabbling out the money according to the cut in the particular note. So, for example, let us consider if for a Rs 2000 note, 88 sq cm is fine, then you will get the complete currency against it.
However, if of this same note, 44 sq cm is fine, then you will receive only half the price of that note. Similarly, if, for instance, your note of Rs. 200 is torn, then if 78 sq cm of this note is ok, you can get your full money back, and, if it is 39 sq cm, then half your money will be given.
If the bank does not exchange the note, then take help from here
It is not so that the bank directly denies exchanging the notes of the customers; however, it always checks the type of tear in the note during exchanging torn notes. There are some situations and conditions due to which a bank doesn’t exchange of notes with the customers.
When the unintentional teared notes have been done or such torn note is totally charred, it simply cannot exchange that. And at that, only such notes can be deposited in RBI’s office. Even the problem gets created if the number is removed from the note; it becomes difficult in the cases to exchange them. If you want more information about a set of it, you can see all this on the official website of RBI.
