New Currency Notes: The Reserve Bank of India is responsible for issuing currency notes in the country. However, in the wake of demonetization, there have been numerous rumors and fake news circulating regarding the notes.
But here’s some good news for you! Punjab National Bank has introduced a special offer where you can get brand new currency notes. The bank has shared information about these notes through a tweet. Stay tuned for more details!
Visit Your Nearest Branch
In an official tweet, Punjab National Bank (PNB) has shared that you now have the convenience to exchange your old or damaged notes. Simply reach out to your nearest branch, where you can exchange both notes and coins.
Reserve Bank’s Guidelines
The Reserve Bank has issued new guidelines, providing reassurance for those with old or damaged notes. You can now exchange such notes at any branch of the bank. If any bank employee denies the exchange, you have the right to file a complaint. Remember that the value of a note decreases as its condition worsens.
Conditions for Note Exchange
According to the RBI, torn notes will only be accepted if a part is missing or if more than two pieces are pasted together, as long as no essential part is missing. If crucial elements of the currency note are absent, such as the issuing authority’s name, guarantee and promise clause, signature, Ashoka Pillar, picture of Mahatma Gandhi, watermark, etc., the note cannot be exchanged. Soiled notes that have become unusable due to extensive circulation can also be exchanged.
For severely burnt or stuck-together notes, you will need to approach the RBI’s issuing office, as banks cannot process them. Please note that the institution will verify that the damage to your note is genuine and not intentional.
Take advantage of these guidelines and ensure your notes are in good condition for hassle-free transactions.
