New Delhi: Often people are worried about old or mutilated notes. No shopkeeper also takes such notes. If you also have such notes, then there is no need to take tension. You can easily change it from the bank and take a new note. Old or mutilated notes can also be exchanged.
The bank will return the money to you according to the part of the torn note with you. Sometimes notes are torn by mistake. At the same time, most of the old currency and embroidered notes get torn while taking out. If you also have such notes, then know how you can exchange them from the bank.
The note will change like this
According to RBI, every bank will have to accept old, torn, or mutilated notes provided they are not counterfeit. Therefore, you can easily change notes by visiting the nearest bank branch. No fee is charged for this. Also, it is not necessary to be a customer of that bank for this. You can just go to your nearest bank and get it changed.
The bank checks the condition of the note
Let us tell you that changing the old currency depends on the bank whether it will change or not. For this, no customer can force the bank. While taking the banknote, it checks that the note has not been torn intentionally. Apart from this, how is the condition of the note? Only after that, the bank changes it. If the note is not fake and its condition is a bit fine, then the bank easily replaces it.
However, in some situations, the notes cannot be exchanged. According to the Reserve Bank of India’s rules, the notes cannot be exchanged in case of badly burnt, torn pieces. Such notes can be deposited in the issuing office of RBI only. At the same time, with such notes, you can pay your bills or taxes in banks. Apart from this, by depositing such notes in the bank, you can increase the amount of your account.
There is a provision to give half value
According to the rules of RBI, there is no provision to give half paise in notes ranging from 1 rupee to 20 rupees. In this case, the payment is made in full. At the same time, there is a provision to give half a rupee in the note of 50 to 2000 rupees. In such a situation, if there is less share, you are given half the value of the note.
