Does writing anything on a bank note make it invalid? The Government, through Press Bureau of India (PIB) Fact Check unit, on Sunday clarified that bank notes with scribbling are not invalid and continue to be legal tender. However, it added that writing on currency notes is not recommended as it “defaces them and reduces their life”.
The clarification came in response to a viral message which stated that the Reserve Bank of India (RBI) has released new guidelines, under which writing anything on new notes make it invalid and it will no more be a legal tender.
“NO, Bank notes with scribbling are not invalid and continue to be legal tender,” PIB Fact Check said in a tweet. “Under the Clean Note Policy, people are requested not to write on the currency notes as it defaces them and reduces their life,” it added.
Does writing anything on the bank note make it invalid❓#PIBFactCheck
✔️ NO, Bank notes with scribbling are not invalid & continue to be legal tender
✔️Under the Clean Note Policy, people are requested not to write on the currency notes as it defaces them & reduces their life pic.twitter.com/V8Lwk9TN8C
What is RBI’s Clean Note Policy
Announced by the central bank in 1999, the objective of the RBI Clean Note Policy is to give the citizens good quality currency notes and coins while the soiled notes are withdrawn out of circulation. The RBI has also instructed the banks to issue only good quality clean notes to the public and refrain from recycling the soiled notes received by them over their counters.
RBI has installed high-speed Currency Verification and Processing Systems (CVPS) machines at all its offices which deal with currency. These machines are capable of processing 50,000-60,000 pieces per hour and soiled notes are shredded and briquetted on-line.
Ever since 1999, when the Governor announced the Clean Note Policy, several steps were taken for augmenting the supply of currency notes and coins. The members of public were urged not to write on the currency notes and banks were instructed to provide unrestricted facility for exchange of soiled and mutilated notes.
As per the RBI’s instructions, currency chest branches of the banks must offer, even to non-customers, good quality notes and coins in exchange for soiled and mutilated notes.
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