RBI Rule On 500 Rupee: If you have two notes of 500 rupees and both have the same serial number, then what will you do in such a situation. What does RBI not have about this. Many times it happens that even while withdrawing money from ATM, mutilated or old notes are found. Let’s know about it in detail.
People get upset in such a situation. But you don’t need to worry. For this you must see the RBI guideline. This will solve your problem and your difficulties will also go away.
Notes of 100, 200, 500 rupees are issued by the Reserve Bank of India, but after the demonetization across the country, many types of viral and fake news about the notes keep coming to the fore.
If you also want to replace old or mutilated notes, now you can do this easily. For this you can contact your nearest branch. There you can exchange notes and coins. If two notes have the same serial number, will they be considered valid?
In this regard, the Reserve Bank says that it is possible that two or more bank notes may have the same serial number, but either have different inset letters or different printing years or different governors of the Reserve Bank of India. Can. An inset letter is a character printed on the number panel of a banknote. Notes can also be without any inset letter.
These are the ways to identify fake notes
The Reserve Bank has told in its guideline to identify the new 500 note that a few days ago it was being claimed in a message that the note of 500 rupees is fake, in which the green strip is not near the signature of the RBI governor, but of Gandhiji. Near the picture. Describing it as fake, PIB tweeted that both types of notes are valid. Also RBI has shared a PDF to help common citizen to find difference between genuine vs fake Rs 500 notes.
How to identify unfit notes
- If the notes have become very dirty and there is a lot of soil in them, then in such a situation they are considered unfit.
- Many times, due to the long use of notes, the notes become loose or loose. Such notes become unfit.
- Notes torn from edge to center are unfit.
- If the area of ​​dog ears made in the note is more than 100 square millimetres, then it will be considered unfit.
- Notes which have holes larger than 8 square millimeters are considered unfit notes.
- Any graphic change in the note is considered as unfit note.
- If the ink of the pen is smeared on the note, then it is an unfit note.
- If the color of the note fades, then it is an unfit note.
- If there are things like tape, glue on the note, then such note is considered unfit.
- If the color of the note changes, then in such a situation such note is considered unfit.
Know what the rule of RBI says?
According to the new rules of the Reserve Bank, if you also have old or mutilated notes of 500 rupees, then you do not need to worry at all. Now you can exchange such notes by visiting any branch of the bank.
If a bank employee refuses to exchange your note, then you can also file a complaint about this. You have to keep in mind that the worse the condition of the note, the less its value decreases.
keep these things in mind
According to RBI, any torn note will be accepted only when a part of it is missing, or which consists of more than two pieces and is pasted together, provided that no essential part of it is missing. If some special parts of the currency note, such as the name of the issuing authority, guarantee and promise clause, signature, Ashoka Pillar, Mahatma Gandhi’s picture, water mark, etc. are also missing, then your note will not be exchanged. Soiled notes which have become unusable due to circulation in the market for a long time can also be exchanged.
You can change notes like this
Tell that if you have a lot of burnt notes, or notes stuck together, then they can also be changed from the RBI office, but the bank will not take them, you will have to take them to the issue office of RBI. It has to be remembered that these things will definitely be checked by the institution that the damage to your note is genuine and not intentionally damaged.
