Plot Currency Notice For Free

Criteria for Exchange of Damaged Banknotes (1) A banknote with two-thirds or more of the original remaining: Exchanged at full face value. (2) A banknote with two-fifths or more, but less than two-thirds, of the original remaining: Exchanged at half face value.

Are you a holder of torn, soiled, damaged currency note? Do no worry, take the note(s) and go to any bank branch. They will exchange the notes and give you fresh currency notes. However the value of the exchange depends upon the condition of the torn, damaged, etc currency notes.

Many stores and merchants will not take torn or drawn-on bills, and even vending machines struggle to take heavily wrinkled ones. The good news is that even if a bill is torn in half, you can tape them together and exchange them at a Federal Reserve bank for fresh notes, as long as the serial numbers match.

In most cases the banks will only reimburse you with the face value of a damaged banknote if you still have at least half of the banknote.

The Bureau of Engraving and Printing (BEP) redeems mutilated currency as a free public service. Please find more information about this service at BEP Currency Redemption Services.

The Reserve Bank, in consultation with the Central Government and other stake holders, estimates the quantity of banknotes that are likely to be needed denomination-wise in a year and places indents with the various currency printing presses for supply of banknotes.

Find a bank near you which has a currency chest. This is where RBI keeps its cash to supply to nearby bank branches. If they have Rs 10 notes (new or used) in stock they should be able to help you. Or you can go to RBI.

Summary. Currency value is determined by aggregate supply and demand. Supply and demand are influenced by a number of factors, including interest rates, inflation, capital flow, and money supply. The most common method to value currency is through exchange rates.