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Monday, January 17, 2022

If Holi got noticed, do not take tension on the banknotes, know what the RBI rules say

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Holi 2021: While playing Holi, many times the notes kept in the pocket are not noticed, due to which the notes get colored or become dirty. It becomes difficult to run colored notes in the market, because some shopkeepers refuse to take such notes.

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What would happen if one of your notes got colored while playing Holi? Can the color on the banknote be removed? People are asking many such questions. That is why today we are giving you information about the rules related to RBI. Notification has been issued regarding the rules related to changing the banknote of RBI. In which all the things related to it are mentioned.

What will happen to the tinted note?

According to the Reserve Bank of India, no bank can refuse to take colored notes. But, while advising with this, the RBI said that no notes should be dirty.

Know about RBI rules…

The Reserve Bank of India (RBI) says that all banks in the country will have to take old, torn notes, unless they are fake. Therefore, you can easily go to your nearest bank branch and change the note. No fee is charged for this. Also, it is not necessary to be a customer of that bank.

According to the statement issued by the RBI, such notes which are very decaying or badly burnt, may have been broken into pieces.

If a note has got stuck in a bad way, and due to this they are no longer generally able to be kept, then the bank branches should not change such notes.

Instead of taking such notes for exchange, it should be advised to present these notes in the respective issue office, where they will be adjudicated under a special procedure.

Which notes will not be changed

RBI says that if your note is not fake then it can be changed. Old, torn and notes can be easily replaced. You are not charged any fee for this, but the burnt or very bad pieces will not be replaced. If the bank officer feels that you have torn or cut the note intentionally, then he can refuse to change your note.

How much money will the torn note get back?

It depends on how much the note is and how much it is torn. Suppose the amount of 2000 rupee note is 88 square centimeters (CM), you will get full money. But at 44 sq. CM you will get half the price. Similarly, giving 78 square CM’s share in a 200 rupee note, you will get full money, but 39 square CM will get half the money.

How to change note?

According to the circular, these notes can be changed by going to the bank. As per the Reserve Bank of India (RBI) rules, every bank has to accept old, torn or folded notes unless it is fake.

Therefore, you can easily go to your nearest bank branch and change the note. No fee is charged for this. Also, it is not necessary to be a customer of that bank.

Also read – Silbatta, what is a pumpkin called in English? By the way, very few people know, you know today

Also read- Bank Holiday 2021: Deal with all the important work related to the bank in a few hours, the bank will remain closed for a long time next week.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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