Usually, every time while withdrawing money from the ATM, torn notes come out. Most people think and worry about what will happen in such a situation. Let me tell you that there is a rule made by RBI for this situation. If torn notes come out from the bank (khrab note kaha change kraye), then you should do this work immediately. Otherwise, you may face some problems due to it. Let’s go into detail about this.
Will have to fill the cash deposit form-
In case torn notes come out from the ATM, one can very well change it. As per the rules from RBI (RBI currency exchange rule), if torn notes come out from the ATM, change it at the bank.
And also changing such notes in the bank has no long process. You can visit the bank and get these notes changed in very few minutes. For this, you need to go to your bank and fill cash deposit form.
RBI said this for banks
RBI (RBI guidelines on mutilated note) has issued instructions to banks concerning mutilated notes. Just to inform you, no bank can refuse to change these notes. Along with that, immediately carry the work of changing such notes by a bank. Besides and above mutilated notes, one can also visit the bank and get dirty notes changed. Mutilated and dirty notes will be changed in all the branches of banks.
You can get the notes changed by going to the bank branch-
One recently delightful announcement was made by the biggest state government bank, State Bank of India i.e. SBI (SBI guidelines on note) in which the bank has updated its customers on mutilated notes. The notes banks are also known to have the latest note sorting machines, and in these machines, different qualities of notes can be viewed by having a check at the bank.
The chance of encountering torn or mutilated or damaged notes in this kind of check would be almost negligible. In such a case, if a customer finds torn notes from the ATM, he/she can simply go to the nearest bank branch and get it changed.
Banks can be fined Rs 10,000-
An update has been issued recently by the Reserve Bank of India, which says that if any bank refuses to oblige to the change of a damaged note, the bank will be fined Rs 10,000 for the transgression. This particular rule by the RBI is applied to every bank in the country.
Do not destroy these three things from the note-
As learns from the print, if it is a damaged or fake note from the ATM, the bank shall be responsible for this. It is the ATM dispensing agency that bears no responsibility in this case. The bank employees check an ATM cash-note for defects. Whereas, if the serial number and Gandhiji’s watermark are found visible along with the mention of the Governor’s oath, the bank obliges itself to change that note.
This much money you can exchange in a day:
RBI issues circulars time to time regarding such torn notes. In such cases, if a person approaches the bank or Reserve Bank, one can never refuse to change the notes. Maximum, a person can exchange 20 pieces at a time.
The number of notes to be exchanged is only 5 thousand rupees in a day (ek din me kitna cash deposit kar sakte hai). You might be able to exchange certain notes at a bank, but otherwise, you will have to visit a branch to change these. According to these rules of RBI, badly burnt, torn notes cannot be exchanged.
