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Tuesday, May 2, 2017

Weather your bank is refusing to accept Scribbled Notes ?

 Weather your bank is refusing to accept Scribbled Notes ?

If we believe social media reports, there seems to be a news that Banks are refusing to accept the scribbled notes. While there is a policy of the Govt. about "Clean Note Policy", However, the banks cannot refuse to accept the scribbled notes, the Banking Regulator Reserve Bank of India (RBI) says so. As usual with every "right" there is a "responsibility" associated. It is our responsibility that we should not write anything on the bank notes and keep the bank notes safely. Reserve Bank of India vide its notification No. ID.(Res.). No. 4530/04.00.001/2016-17 dated April 25,2017 has clarified that scribbled/coloured/faded bank notes are to be accepted from members of general public by all banks and the same may be treated as soiled notes. The said notification is reproduced below:


Next time when you face any refusal from the banks in acceptance of the scribbled/coloured/faded bank notes, complain to the bank in writing.

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