Big news...now banks cannot refuse scribbled notes

New Delhi: Don't worry, be happy. Yes, actually you can if you have scribbled or defaced notes and you were worried about losing the amount permanently. The RBI has pointed out strictly that banks cannot refuse to accept scribbled, defaced or faded notes. 

Such notes will be considered as soiled notes and will be handled according to RBI's clean note policy. The RBI took this step after it received complains from various quarters that the banks were not accepting notes, especially if 500 and 2000 denominations with anything scribbled on it or with faded colour.

In 2013 RBI had issued a statement that from 2017 banks will not accept any scribbled notes. RBI clarified that it had done so to discourage the staffers from writing anything on the note.

News24Bureau