500 Note: RBI’s rules for changing 500 rupee notes! Big announcement for common man – mssewb.org

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Recently the Reserve Bank of India has issued some guidelines on Indian notes. So if those people have Rs 500 notes or bundles of Rs 500 notes, then useful news for them. After the demonetization across the country, various news about 2000, 500 rupee notes have come to the fore. Let’s know what new guidelines have been issued by the Reserve Bank of India?

Notes are issued by the Reserve Bank of India

Any notes in the country are 100, 200, 500 and 2000 rupee notes issued by the Reserve Bank of India. These notes are deposited in the ATM in a specified manner. In such a situation it is not uncommon to see torn or cracked notes coming out of ATMs. Many people get annoyed when they get torn notes while withdrawing money from ATMs. The problem is, these notes cannot be played anywhere. But changing such notes is not a difficult matter as per RBI guidelines.

As per Reserve Bank of India guidelines, such notes can be exchanged by visiting any bank branch. At the same time, a new guideline has been issued by the central bank to mark the Rs 500 notes. Basically RBI has informed the method of identifying torn notes.


Now let’s see how bad notes can be recognized?

  • If the note is torn from the corner to the middle, it will be considered ineligible.
  • If the note is very dirty or has soil on it, it will be considered ineligible.
  • If the notes are damaged due to excessive use, they are considered invalid.
  • Besides, graphic modification of notes will also be considered ineligible.
  • Also, if the color of the note is discolored, it may be considered ineligible.

Know the instructions of RBI

As per RBI rules, if a person has an old or defaced Rs 500 note, there is no need to worry about it. It can be changed by visiting any bank branch. If a bank refuses to change it, a complaint can be filed against the bank.

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