RBI tweaks norms for exchange of damaged currency notes
The public can exchange banks mutilated or defective notes at RBI offices and designated bank branches across the country for either full or half value, depending upon the condition of the currency.
These rules have come into force with immediate effect.
“We further inform that there is a change in the minimum area of the single largest undivided piece of the note required for payment of full value for notes of rupees fifty and above denominations…,” the RBI said.