Have soiled currency notes? Regret the loss? Worry not, exchange them for brand new ones; here is how

Having soiled currency notes? Are you aware of your right to get new currency notes in lieu of the old soiled and torn notes? The Reserve Bank of India (RBI) has mandated all the branches of banks in all parts of the country to provide this customer services “more actively and vigorously” to the members of public so that there is no need for them to approach the RBI Regional Offices for this purpose. You should also know, that no bank branch can refuse to accept small denomination notes and / or coins tendered at their counters. All coins in the denomination of 50 paise, ₹ 1/-, 2/-, 5/-, 10/- and 20/- of various sizes, theme and design issued from time to time by the Government of India continue to be legal tender.

In order to facilitate quicker exchange facilities, the definition of soiled note has been expanded by the banking regulator. A ‘soiled note’ means a note which has become dirty due to normal wear and tear and also includes a two piece note pasted together wherein both the pieces presented belong to the same note and form the entire note with no essential feature missing.

These notes should be accepted over bank counters in payment of Government dues and for credit to accounts of the public maintained with banks.

However, the banks in no case, can issue re-issuable notes to the public and these soiled noted shall be deposited in currency chests for onward transmission to RBI offices as soiled note remittances for further processing.

See what rights RBI ensures to the public:

Issuing fresh / good quality notes and coins of all denominations on demand.
Exchanging soiled / mutilated / defective notes
Small Finance Banks and Payment Banks may exchange mutilated and defective notes at their option.
Accepting coins and notes either for transactions or exchange.

It will be preferable to accept coins, particularly, in the denominations of ₹ 1 and 2, by weighment. However, accepting coins packed in sachets of 100 each would perhaps be more convenient for the cashiers as well as the customers. Such sachets may be kept at the counters and made available to the customers.

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All branches should provide the above facilities to members of public without any discrimination on all working days, the RBI says.