Sonam Gupta is back..banks will accept notes with her name

New Delhi: Sonam Gupta is back in circulation, and she is being accepted too. Well, you may not believe it that the RBI itself has directed the banks to accept Sonam Gupta! Earlier, the banks had refused to do so. What is reason the behind the change of heart, let's find out.

The banks will now have to accept notes scribbled notes. 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.