Explained: How to exchange damaged Rs 2000, Rs 500, Rs 200, Rs 100 notes in India

How to exchange damaged Rs 2000, Rs 500, Rs 200, Rs 100 notes: If you have a damaged note of any denominations including Rs 500 and Rs 2000, then it may be a cause of worry. However, to your relief, the RBI has allowed the exchange of new notes which have been damaged. 

Explained: How to exchange damaged Rs 2000, Rs 500, Rs 200, Rs 100 notes in India
The new notes are already available in the market. It is quite possible that you may have received a damaged note or you may have damaged it by mistake. PTI
Written By: ZeeBiz WebTeam
Updated: Fri, Dec 14, 2018
03:41 pm
ZeeBiz WebDesk
RELATED NEWS
35 bps RBI repo rate cut: Indian rupee to hit 69 or 72-mark? Here's where INR is headed 35 bps RBI repo rate cut: Indian rupee to hit 69 or 72-mark? Here's where INR is headed
Big blow! This is what will move your rupee going forward Big blow! This is what will move your rupee going forward
INR vs USD: Rupee-dollar deviation to remain stable in July, US Fed rate cut remains a major trigger INR vs USD: Rupee-dollar deviation to remain stable in July, US Fed rate cut remains a major trigger
Budget 2019: Where does the rupee come from and where the rupee goes? Find out Budget 2019: Where does the rupee come from and where the rupee goes? Find out
Enjoy duty free shopping at Dubai airports with Indian Rupee now Enjoy duty free shopping at Dubai airports with Indian Rupee now

How to exchange damaged Rs 2000, Rs 500, Rs 200, Rs 100 notes: Since November 2016 demonetisation move, the government has not only introduced new denomination notes like Rs 200 and Rs 2000 but also relaunched all the notes of existing denominations like Rs 10, Rs 50, and Rs 100. It was also rumoured that the Reserve Bank of India will launch revamped Rs 20 note.

The new notes are already available in the market. It is quite possible that you may have received a damaged note or you may have damaged it by mistake. And if the note is of Rs 500 or Rs 2000 denominations, then it may be a cause of worry. However, to your relief, the RBI has allowed the exchange of new notes which have been damaged. Check how much you can get in exchange of new Mahatma Gandhi series currency notes of these denominations:

Rs 10: The new Rs 10 note has an area of 77.49 square centimetre. To get the full value refund, you must return the note with a minimum intact area of 39 square centimetre.

Rs 50: Area of the new Rs 50 note is 89.10 square centimetre. The minimum area required to get the full payment is 72 sq cm. If you return the note with the area of 36 sq cm, the bank will return only half the amount. You will get no refund if the area is less than 36 sq cm. 

Rs 100: The new Rs 100 note comes with an area of 93.72 sq cm. The minimum area required for full payment is 75 sq cm and for the half-value payment is 38 sq cm.

Rs 500: The new Rs 500 note with an area of 99 sq cm was introduced after note ban. If you have a damaged Rs 500 note, the minimum area required for the full refund is 80 sq cm and for half payment is 40 sq cm.

Watch This Zee Business Tweet Video

Rs 2000: The area of the new Rs 2000 note is 109.56 sq cm. The minimum area needed for full payment is 88 sq cm and for half-value payment is 44 sq cm.