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HomeNewsHow to exchange torn currency notes: Bank branches, procedure, limit and details

How to exchange torn currency notes: Bank branches, procedure, limit and details

May 14, 2024 02:03 PM IST

Exchange currency notes: You can exchange up to 20 notes with a daily maximum value of ₹5,000 at banks for free.

You can exchange soiled or defective notes in any banks all over the country although the rules are different when it comes to exchanging notes in small amounts and in bulk. As per the Reserve Bank of India (RBI) website, “A ‘soiled note’ means a note which has become dirty due to normal wear and tear and also includes a two piece note pasted together wherein both the pieces presented belong to the same note and form the entire note with no essential feature missing. These notes shall be accepted over bank counters in payment of Government dues and for credit to accounts of the public maintained with banks.”

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