The facilities
provided to the members of public for exchange of their soiled, mutilated
etc. notes are as under.
Soiled notes are
those which have become dirty and slightly cut. Notes which have numbers
on two ends, i.e. notes in the denomination of Rs.10 and above which are
in two pieces, are also treated as soiled note. The cut in such notes,
should, however, not have passed through the number panels. All these
notes can be exchanged at the counters of any public sector bank branch,
any currency chest branch of a private sector bank or any Issue Office of
the Reserve Bank of India. There is no need to fill any form for doing
this.
Notes which are
in pieces and/or of which the essential portions are missing can also be
exchanged. Essential portions in a currency note are name of issuing
authority, guarantee, promise clause, signature, Ashoka Pillar
emblem/portrait of Mahatma Gandhi, water mark. Refund value of these notes
is, however, paid as per RBI(Note Refund) Rules. These can also be
exchanged at the counters of any public sector bank branch, any currency
chest branch of a private sector bank or any Issue Office of the RBI
without filling any form.
To suit public
convenience, the exchange facility for mutilated notes is also offered
through TLR(Triple Lock Receptacle) covers. Members of public can obtain
from the Enquiry Counter of the Reserve Bank a TLR cover and put their
notes in the cover with particulars, such as, name, address, denominations
of notes deposited, etc. filled in the columns provided on the cover,
close it and deposit it in a box called Triple Lock Receptacle against
issue of a paper token. This box is kept at the Enquiry counter at each
Issue Office of the Reserve Bank. The admissible exchange value of the
mutilated notes will be remitted by means of a bank draft or a pay order.
Mutilated notes can also be sent to any of the RBI offices by
registered/insured post.
Notes which have
become excessively soiled, brittle or are burnt and, therefore, cannot
withstand normal handling can be exchanged only at Issue Office of the
RBI. Persons holding such notes may approach the Officer-in-charge of the
Claims Section, Issue Department of the Reserve Bank for this
purpose.