Don’t Worry: Now Bank gives this much rupees in return of torn notes | Read Details

Don’t Worry:  Bank gives this much rupees in return of torn notes,

In lieu of mutilated notes, the Reserve Bank of India has made several important changes in the (Note Refund) Rules, 2009. According to the rules, people can get the deformed or defective notes replaced at RBI offices and designated bank branches across the country depending on the status of the note. If you also have a torn note, do not worry. Today we are telling you from where and how you can change these torn notes. And how much money the bank gives you in return.

Change Torn Notes Here,

you can change these notes by going to any bank branch near you. But this facility is not available in every bank. Bank employees cannot refuse to change your note. The Reserve Bank of India (RBI) has explicitly instructed all banks to change the mutilated notes. Also, they have to put up board about this facility in their branches.

 

according to RBI rules, how much the note is torn depends on its condition. According to the information available on the official website of the Reserve Bank of India,

if 88 square CM (cm) of 2000 rupee note will get full money,

while 44 square CM will get half the money. The bank does not charge any fees, the bank does not charge you any fee to replace a torn note. This service is provided free of cost by the bank. However, the bank may refuse to exchange such notes which are extremely bad or badly burnt. If the bank suspects that the note has been intentionally cut, they will not be changed either.

How much will be the refund?

For full refund of old torn notes of 50 rupees, 100 rupees and 500 rupees, it will be necessary that your note is divided into 2 parts, one part of which covers 40 percent or more of the entire note.