If you ever receive torn or dirty notes from an ATM, there is no need to worry. According to the guidelines issued by the Reserve Bank of India (RBI), such notes can be easily exchanged for new ones, and banks are not allowed to refuse this service.
Definition of Torn and Dirty Notes
As per RBI, dirty notes are those that have become damaged or dirty but still have both serial numbers visible. Notes of ₹10 or higher that are torn into two parts are also considered dirty notes, provided that the cut doesn’t pass through the number panel.
How to Exchange Torn Notes
If you have torn notes, you can exchange them at:
- Public Sector Banks
- Private Bank Currency Chest Branches
- RBI Issuing Offices
You don’t need to fill out any form for this process. If you have up to 5 notes, the bank will exchange them over the counter. However, if you have more than 5 notes or notes with a value exceeding ₹5,000, it is advised to take them to the currency chest branch, where they will be credited to your bank account.
How to Exchange Dirty Notes
Dirty notes can also be exchanged at any of the banks mentioned above without the need for a form. For up to ₹5,000 or 20 notes, the bank will replace them free of charge at the counter. For amounts exceeding ₹5,000 or more than 20 notes, the bank will accept the notes and provide you with the amount later. If the value exceeds ₹50,000, the bank may exercise additional caution and may charge a service fee.
Key Points on Exchanging Torn or Dirty Notes
| Note Condition | Where to Exchange | Limit for On-the-Spot Exchange | Additional Steps |
|---|---|---|---|
| Torn Notes | Public, Private Banks, RBI Issuing Offices | Up to 5 notes, or ₹5,000 | More than 5 notes to be sent via currency chest branches |
| Dirty Notes | Public, Private Banks, RBI Issuing Offices | Up to ₹5,000 or 20 notes | More than ₹5,000 or 20 notes accepted with delayed payment |
| Large Exchanges | Same as above | Over ₹50,000 | Banks may take extra caution and apply a service fee |
By following these guidelines, you can easily exchange torn or dirty notes at any authorized bank without any hassle. Make sure to act within the limits to avoid additional procedures
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