Can we deposit torn notes in ATM?

Actually, the bank cannot refuse to exchange the torn or damaged note received from the ATM. According to the rules of the Reserve Bank of India (RBI), if you ever get such torn or damaged notes from ATM then how can you easily replace them with the bank.

Is ripped money valid?

American currency is valid when torn and taped, although when it is cashed the bank may destroy it to keep it out of their bank’s circulation. There are 3 things needed for a bank to replace a bill:More than 75\% of the head remains, the security strip remains, and one or more serial numbers can be identified.

Can you use ripped money?

You can use your cash as is if a corner is missing. If it’s ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.

Is ripped money accepted?

Any badly soiled, dirty, defaced, disintegrated, limp, torn or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated and should be included in your normal deposit.

Can I exchange a damaged Rs 500 note?

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.

How to earn Rs 10K from old 500 rupees notes?

If you have an old note of Rs 500 (the ones which were in circulation prior to demonetisation in November 2016) then you can earn Rs 10,000 without having to work hard. When a note (of whichever denomination) is issued by the Reserve Bank of India (RBI), it is printed keeping a fixed pattern in mind.

How do I get a replacement 500 rupee note from RBI?

Go to any branch of RBI or the local branch managing the treasury chest. If the number on the note is clearly visible even if the note is torn they will replace it. Why did the Indian government demonetize the current 500 and 1000 rupee notes and replace them with new notes?

How much will I get for a torn note in India?

May be you will get 450 to 470 rupees for the torn note you have. You should handover to RBI bank and give one apology letter to them because government is already given the notice of all indain to change them notes.