Exchange of damaged notes: Sometimes torn notes come out of the ATM machine. Let’s know what to do in such a case without getting confused.
First Published Feb 21, 2023, 12:25 AM IST
If torn notes come out of ATM, without tension, you can exchange easily. As per RBI norms, you can easily exchange your torn and damaged notes at any bank. Although there are some rules. Explain the related process in detail.
Many a times in the market, shopkeepers refuse to accept notes while buying something because of torn notes. Then you don’t need to worry. You can easily exchange your torn notes, exchange torn notes easily at the bank. RBI also issues circulars from time to time for this purpose.
You can easily exchange currency notes by visiting your nearest bank branch or RBI office. But there is a limit to this. According to the RBI rules, a person can exchange a maximum of 20 notes at a time. Also their value should not exceed Rs.5000.
At the time of exchanging the notes, the bank checks the condition of the note. If a note is intentionally torn, completely burnt and disintegrated, you cannot replace it. Such notes should be deposited in RBI issue office only. You can give a missed call to RBI helpline 14440 to get more information regarding note exchange.
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What to do if you get torn notes from ATM?
If a torn note comes out while withdrawing money from an ATM, go to the nearest bank where the note came from the ATM. After going there you have to give the details of the application amount and ATM slip transaction. If the slip does not come out from the ATM, you can also give the details of the received SMS to the mobile so that the note can be exchanged easily.
Last Updated Feb 21, 2023, 12:25 AM IST