Your question: Can I exchange 500 rupee notes?

Can I exchange notes at any bank?

Torn currency notes can be changed in any bank

Normal mutilated notes can be exchanged at any of the bank branch counters or any RBI office. For this process, one need not fill any form.

How do I exchange a damaged 500 note?

All these notes can be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the Reserve Bank of India. There is no need to fill any form for doing this.

Is tearing money illegal in India?

All branches of commercial banks are authorised to adjudicate mutilated banknotes (which are legal tender) and pay value for these, in terms of the Reserve Bank of India (Note Refund) Amendment Rules, 2018. Small Finance Banks and Payment Banks may exchange mutilated and imperfect/defective notes at their option.

Where can I exchange my burnt money?

If it is damaged but not mutilated and you do not want to use that currency for any reason, you can exchange that money at your local bank. Money that has been mutilated or extensively damaged beyond repair or use should be submitted to the US Bureau of Engraving and Printing or the US Mint.

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Will banks replace damaged notes?

Banks can exchange some mangled money for customers. Typically, badly soiled, dirty, defaced, disintegrated and torn bills can be exchanged through your local bank if more than half of the original note remains. These notes would be exchanged through your bank and processed by the Federal Reserve Bank.

Are old 500 notes still accepted in Kenya?

500 notes will continue to circulate and be legal tender after October 1. ONLY the older KSh. 1000 notes are being withdrawn.

Can you exchange old notes 2020?

Exchanging old notes

If you want to exchange up to Rs 4,000 in cash, you can simply go to any bank with a valid ID proof. This limit of Rs 4,000 for exchanging old notes will be reviewed after 15 days.

How do I sell my old currency notes?

You can sell unique and old currency notes online on eBay. The website also allows the sellers to talk to buyers about the old, rare notes which they want to sell and for how much. It is to be noted that an old note of the 786 series can help you earn a huge amount on the eBay website.