There was a time when all transactions were done through cash, as no other option existed. Whether buying goods worth Rs 10 or thousands, people seem to be more dependent on cash. But now times have changed and people have started making more payments online. Like- from UPI app. Whether buying an item worth one rupee or worth thousands and lakhs, people are increasingly using online payment. But this does not mean that now people do not have cash. Now things have become easier, so that people can withdraw money from ATM when needed. But just think, what will you do if torn notes come out from the ATM? You may not know about this, but know here that you can exchange these notes from the bank.
RBI has rules regarding this
In fact, the Reserve Bank of India i.e. RBI has clearly stated in a guideline that all banks (government and private) will exchange torn or dirty notes in every branch without any hassle. If the bank refuses to exchange the note withdrawn from the ATM, appropriate action can be taken against it. Apart from this, there is also a provision for penalty, under which a fine of Rs 10,000 can also be imposed on the bank.
First of all, check whether you have received the torn notes from the ATM or not, if yes then you will have to go to the bank from whose ATM you have received the damaged notes. Step 2: You will have to go to the bank and write an application, in this you will have to write how much money you have withdrawn from which ATM, how many mutilated notes have come, that is, you will have to give complete information. You will have to attach the ATM slip with the written application. If it is not a slip, you can also paste a copy of the money deduction message on the mobile, after which your torn notes will be replaced.
