Exchange Damaged Notes: If you want to exchange mutilated notes then know this rule of RBI..

Generally, while buying vegetables in the market or purchasing any other thing, we usually come across mutilated notes. Many times the note gets cut or torn by mistake on our part. Sometimes there is a mistake and the note gets burnt. In such a situation, that note cannot be circulated in the market. In such a situation, you can get that note exchanged in RBI. According to the guidelines of the Reserve Bank of India (RBI Rule), no bank can refuse to exchange your notes. So let us know what are its rules.

How to get burnt or mutilated notes replaced?
If you have burnt or mutilated notes, you cannot get them exchanged at your nearest bank. For this, you will have to go to RBI. After examining your notes, RBI itself decides whether the notes themselves are burnt or torn or have come to you by mistake. After which your notes will be changed.

How many notes can be exchanged at one time?
If you are wondering how many notes can be exchanged at one time, then let us tell you that you can exchange 20 notes at one time. Whose price can be up to Rs 5 thousand. If you want to exchange more notes than this, then the process is different and you may have to wait for some time for that.

Know that fake notes can be exchanged-
If you have accidentally received a fake note and you want to get it exchanged from RBI, then please note that in this situation you cannot get the note exchanged from RBI. There is no provision in RBI to exchange fake notes. In this way, you can go to RBI to exchange mutilated or burnt notes but not fake notes.

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