Now the bank will not hesitate, if mutilated notes are not being changed, then use the toll free number 14440 like this
No bank can hesitate to exchange mutilated notes. The Reserve Bank of India (RBI) has issued instructions that if a note is not exchanged, you can give a missed call to RBI’s toll free number 14440. RBI will take action against the concerned officer.
Bankers do not accept mutilated notes
It is often seen in the bank that those who come to deposit money in the bank also bring mutilated notes. They are refused to deposit notes in the bank. Even if deposits are taken for some reason, those notes are handed over to the person who withdraws the money. RBI’s guide line is to check every note coming in the bank and separate the mutilated notes. They should not be given to the drawer.
RBI Guideline
- A note is in four pieces, one piece of the note is missing and the note is numbered. Such notes will be exchanged by the bank.
- Very old and bent notes will be exchanged by the bank.
- Notes of five pieces, burnt notes whose numbers are not visible. The bank will send the holder of such note to the nearest office of RBI. There the note will be checked and if the note is correct, the bank will be asked to deposit it.
RBI will take information from the concerned caller
On giving a missed call on reluctance to exchange the note, the RBI officials will take information from the concerned caller and instruct the concerned bank to exchange the note. District Leading Bank (LDM) Manager Vishal Dixit said that RBI is serious about changing mutilated notes.
