Good news!These faded,scribbled notes will be accepted by banks

New Delhi: The banks will have to accept notes scribbled with remarks like "Sonam Gupta Bewafa Hai", the Reserve Bank of India (RBI) has said. In a fresh circular RBI has asked banks to accept faded notes or those with ink marks or scribbles.

The RBI circular said that such banknotes will have to be treated as "soiled notes" and dealt with according to the RBI's "clean note policy". The clean note policy says that banks cannot turn away customers with soiled notes and banks cannot recycle the soiled notes received by them over their counters.

The RBI statement came after complaints that many banks were not accepting banknotes, with anything written on them or those either smudged with colour or faded due to washing.

The RBi clarified that instructions on scribbling on notes was a directive for bank staffers to not to write on banknotes. But, banks started rejecting such notes after rumours in social media that such notes were banned.

News24Bureau