Most people tear notes by mistake. Many times, while withdrawing money from ATM, some notes get torn. Most people remain troubled by this. Many times people go to the market for shopping with torn notes but shopkeepers refuse to accept them. In such situations, people throw away these notes. If you also have a lot of torn notes, then do not throw them away considering them useless, now you can exchange these torn notes.
Use of old torn notes
If you find these torn notes If you want to change the notes, you have to follow some conditions. First of all you have to go to the bank from whose ATM the torn note came out. After going to the bank you have to write an application. In this application you will have to provide information like date of withdrawal, ATM location and time. Along with the application, you will have to submit the slip received while withdrawing money from the ATM. If you do not have the slip, you can also provide the transaction details received through SMS. After some time of giving all these details, you will get back the notes of the same value.
Exchange this many notes
You can exchange a maximum of 20 notes at a time. Keep in mind that the total value should not be more than Rs 5 thousand, if the value is more than Rs 5 thousand, then you may have to pay extra charges. If you go to a bank to get a torn note replaced and someone refuses to change the note, then a complaint can be made to the banking regulator i.e. RBI. Not only this, you can also impose a penalty of up to Rs 10 thousand on the bank.
These notes will not be exchanged
If any of your notes are torn at many places, its pieces will be If it is damaged or badly burnt, you cannot replace it. You can deposit this type of note only in the issue office of RBI. In this way, now you can use your old torn notes and now you will not regret it.