Where do I exchange soiled or tampered monetary notes?

Question

I've got a Rs. 500 note from an HDFC atm (in velachery). The note was tampered. It is torn on one of the corners. Each note comes with a unique number, right? Well the note just tore through that!!! Some INTELLIGENT FOOL cleverly managed to attach the torn piece with some cello tape. People are not willing to accept this note.

I went to the SBT (Triplicane branch) bank to try and get it exchanged, but they told they won't do that. I don't understand why they refused. This note is "bank property" or the property of the RBI, so why won't ordinary banks help me exchange this note?

What should I do now?

Could anyone think of a non-cunning way to solve this situation. There must be some mechanism to exchange tampered notes.

Answer 1

A note that is torn in the numberloses its value. See the instructions of RBI here:

Double numbered notes - Rs.10/-,Rs.20/-
Rs.50/-, Rs.100/-,Rs.500/- & Rs.1000/-
The note presented should not be more than two pieces. No essential feature of the note should be missing. Both the pieces should be of the same note i.e. the complete number in an undivided area on each piece should be the same.
The above types of notes will be treated as soiled notes and be packeted alongwith soiled notes. These unfit notes shall, in no case, be issued to the public as reissuable notes but shall be deposited in currency chests for onward transmission to RBI offices as chest remittances.
[Ref.DCM.No.G-24/08.01.01/96-97 dated 03.12.1996]

Notes which have turned extremely brittle or badly burnt, charred or inseparably stuck up together and,therefore, cannot withstand normal handling, shall not be accepted by the branches for exchange. Instead, the holders may be advised to tender these notes to the concerned Issue Offices where they
will be adjudicated under a Special Procedure.

It is best to approach RBI if you are in a city where RBI has its own office. Be prepared to lose , as these officers have power to impound the note and stamp as not valid at their discretion if it is disfigured in specified place.

Answer 2

your best chance is to remove a hugh sum from your bank account in Rs 500 bills and put the torn Rs 500 note in it and put the entire amount back the next day.
most banks have money counting machines. they do not detect if note is torned or what.
your note should pass of to the bank unnoticed.
even then if the accountant notices the torn note try the same formula after 3-4 days or try a diffrent bank.
good luck because you are sure going to need some.

Answer 3

sorry there is no straight methods of changing the note when the number is missing. you can exchange very badly torn/soiled notes as long as the numbers are present.

Answer 4

there r counters in various banks for that or u can contact any of the RBI branch for that , hope that will solve d problem !

Answer 5

You can exchange it any nationalised bank. If they dont, you can exchange it with RBI.