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Attention 500 Rupee Note Holders: RBI Releases New Guidelines on Usage, Don't Miss Out on the Latest Updates!

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By Simran Arora
New Update

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RBI Regulation Regarding The 500 Rupee: What Should You Do If You Have Two 500 Rupee Notes With The Same Serial Number? What information about this lacks RBI.

Several times, damaged or outdated notes are discovered even when taking cash from an ATM. In this circumstance, people worry. You shouldn't worry, though. You must refer to the RBI guidelines for this. Your issue will be resolved, and you'll no longer have any problems.

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The Reserve Bank of India issues notes for 100, 200, and 500 rupees, however several viral and false stories regarding the notes have surfaced since the country's demonetization. You may now simply update outdated or damaged notes if you like. You can get in touch with your local branch for this. You may trade coins and bills there. Would two notes with the same serial number be accepted as genuine?

The Reserve Bank of India emphasizes that it is conceivable for two or more bank notes to share the same serial number while having other differences, such as different inset letters, printing years, or Reserve Bank governors. Can. A character inscribed on a banknote's number panel is known as an "inset letter." Instead, notes may not have any inset letters.

These are the techniques to spot phony currency.

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The Central Bank stated in its guidelines for identifying the new 500 note that a few days ago, it was alleged in a message that the 500 rupee note was false since Gandhiji's signature was located next to the green strip instead of the RBI governor's. close to the image. While PIB stated that it was fraudulent, both kinds of notes are legitimate. Also, the RBI has made a Document available to enable the general public tell the difference between real and phony Rs. 500 notes.

How to spot invalid notes

  1. The notes are deemed inappropriate in this circumstance if they have become severely soiled and contain a lot of soil.
  2. The notes frequently get slack or loose after being used for a long period. Such notes are inappropriate.
  3. Notes ripped from edge to center are not appropriate.
  4. The note will be deemed inappropriate if the area of the dog ears is greater than 100 square millimeters.
  5. Unfit notes are those with perforations that are greater than 8 square millimeters.
  6. Any graphic modification to the note is regarded as inappropriate.
  7. The note is invalid if the pen's ink is still visible on it.
  8. It is a bad note if the color of the note disappears.
  9. The memo is deemed inappropriate if it has items like tape or glue on it.
  10. If the note's color changes, it is deemed inappropriate in that circumstance.
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Do you know what the RBI rule says?

If you too have outdated or damaged 500 rupee notes, you are completely safe under the Central Bank's new regulations. You may now swap such notes simply going to any bank office. You can also complain about a bank employee who declines to exchange your note. It's important to remember that a note's value reduces less the worse its condition is.

Recollect these points

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The Reserve Bank of India (RBI) states that any ripped note will only be accepted if a portion of it is missing or if it is made up of more than two pieces and is glued together, as long as no vital component is missing. Your currency note won't be exchanged if several distinctive features, such as the name of the issuing body, the guarantee and promise clause, the signature, the Ashoka Pillar, Mahatma Gandhi's image, the watermark, etc., are also missing. You can also swap dirty bills that have lost their value from being used so long in circulation.

You can alter these notes.

Inform them that if they have several burnt or clumped-together notes, they may also be changed at the RBI office; however, the bank will not accept them; instead, you must take them to the RBI issue office. It is important to keep in mind that the institution will undoubtedly verify these items to ensure that the damage to your note is legitimate and not deliberate.

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