CURRENT AFFAIRS

Detailed explanation-1: -According to the new rules of RBI, damaged currency will be exchanged. Know more here. By India Today Web Desk: According to the new rules by the RBI, mutilated currency notes can be exchanged by the bank and no one can refuse to exchange.

Detailed explanation-2: -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.

Detailed explanation-3: -As per RBI (Note Refund) Rules, 2009, which was amended in 2018, no bank can decline to exchange the damaged, mutilated, taped or torn banknotes. So any damaged genuine currency note, be it soiled, mutilated or imperfect can be exchanged by any bank branch or RBI issue office.

Detailed explanation-4: -Soiled, mutilated or imperfect currency notes are not useless. Such notes can be exchanged by any bank branch or Reserve Bank of India (RBI) issue office on the condition that they are not fake. Importantly, notes on which religious or political slogans are written cease to be legal tender and are not exchangeable.

Detailed explanation-5: -As per the latest RBI guidelines, anybody who has mutilated notes can exchange them from the nearest central bank regional office. Anybody who has mutilated currency notes can visit the central bank regional office and deposit the notes.