Did you accept torn, mutilated currency notes by mistake? Here's how you can exchange them

Zee Media Bureau

New Delhi: No matter how smart we think we are, we end up having torn, tattered, mutilated currency notes at some point of time.

Have you too been through this situation? Did you try to withdraw ATM cash and one of the notes in the bundle was a torn or tattered note? Or did someone smartly tried to pass off a brittle note and you accepted it inadvertently?

If that happened, don't spend your time worrying as to how you can trick others into accepting the same from you. Follow these guidelines as issued by the Reserve Bank of India.

What to do with soiled currency notes

Soiled currency notes are those which have become dirty and slightly cut. Notes which have numbers on two ends, i.e. notes in the denomination of Rs 10 and above which are in two pieces, are also treated as soiled note. The cut in such notes, should, however, not have passed through the number panels. All these currency notes can be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any issue office of the RBI. There is no need to fill any form for doing this.

What to do with mutilated currency notes

Currency notes which are in pieces and/or of which the essential portions are missing can also be exchanged. Essential portions in a currency note are name of issuing authority, guarantee, promise clause, signature, Ashoka Pillar emblem/portrait of Mahatma Gandhi, water mark. Refund value of these notes is, however, paid as per RBI (Note Refund) Rules. These can also be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form.

What to do with excessively soiled, brittle, burnt currency notes

Currency notes which have become excessively soiled, brittle or are burnt and, therefore, cannot withstand normal handling can be exchanged only at Issue Office of the RBI. Persons holding such notes may approach the officer-in-charge of the slaims section, issue department of the RBI for this purpose.

Other facilities for exchange

The exchange facility for mutilated notes is also offered through TLR (Triple Lock Receptacle) covers. From the enquiry counter of the RBI, you can obtain  a TLR cover and put the notes in the cover with particulars, such as, name, address, denominations of notes deposited, etc. filled in the columns provided on the cover. Close it and deposit it in a box called Triple Lock Receptacle against issue of a paper token. This box is kept at the enquiry counter at each issue office of the RBI. The admissible exchange value of the mutilated notes will be remitted by means of a bank draft or a pay order. Mutilated notes can also be sent to any of the RBI offices by registered/insured post.