Citizen Charter - Currency Management
1. Objective of the Citizens' Charter
This Citizen's Charter provides information on various facilities provided by
the Reserve Bank of India in the matter of exchange of notes and coins and the
common standards of the services provided at RBI Issue Offices and commercial
2. Services Available
at RBI Issue Offices
The RBI Offices, where Issue Department is functioning, offer the facility to
members of the public to exchange their notes including soiled and mutilated
notes and coins including uncurrent or worn out coins. The Bank is committed to
provide exchange facility free of cost at its counters during business hours.
3. Names of RBI
Offices which provide exchange facilities
The facilities are provided at the counters of the Bank's Regional Offices
located at Ahmedabad, Bangalore, Belapur (Navi Mumbai), Bhopal, Bhubaneswar,
Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kochi,
Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthapuram.
4. Exchange of notes into coins with the help of coin dispensers
Members of the general public can also get their notes exchanged into coins
using the coin dispensers installed in the banking halls of the Reserve Bank's
5. Exchange of
soiled and mutilated notes and coins at the Bank's public counters
Members of the general public can avail themselves of the following facilities
at the counters of the Bank's Offices.
6. Exchange of mutilated/cut notes received
through the Triple Lock Receptacle or by Post
Exchange soiled notes. A note which has become limp or which has developed
minor cuts due to wear and tear or which is disfigured by oil; color, ink, etc.
will be treated as soiled note. To facilitate easy exchange, notes which have
been divided vertically through or near the centre with numbers intact are also
treated as soiled notes. Notes on which political or religious slogans are
written are not exchangeable under any circumstances.
Exchange mutilated notes. A mutilated note is a note of which a portion is
missing or a note which is composed of pieces, provided that the note presented
is not less than half of the area of the note and that, if the note is composed
of a note joined together, each piece is, in the opinion of the 'Prescribed
Officer' [as defined in the RBI (Note Refund) Rules] identifiable as part of
the same note.
The RBI (Note Refund) Rules, 1975 (as amended upto 1980) are posted on the RBI
under the Head "Publications" and Sub-Head "Occasional Publications".
Exchange of coins including uncurrent coins into notes or coins.
In order to provide note exchange facility to members of the public who cannot
wait at the Bank' s counters to tender their mutilated/cut notes, the Bank's
Offices provide a facility of depositing mutilated/cut notes in a locked box
called "Triple Lock Receptacle (TLR)". The TLR box is kept near a specified
counter and notes can be dropped into the box in a closed cover which can be
obtained from the enquiry counter. The tenderers are required to write the
particulars of the notes tendered by them, their name, address and bank account
number on the cover. Members of the public can also send mutilated notes by
insured and registered post to RBI Offices. In their own interest, such covers
should be sent through Registered and Insured post. The exchange value of notes
which are found payable under the Note Refund Rules is credited to the bank
account of the tenderer through Electronic Clearing Service which is at present
free of cost. In case the tenderer does not have bank account or the place
where he resides does not have a clearing service, the exchange value is
remitted by means of bank draft/money order at the cost of the tenderer. The
TLR facility is available only for mutilated/cut notes and not for soiled
7. General Conditions of Service
8. Exchange of soiled and mutilated notes and coins at the
counters of commercial banks
The exchange facility over the Bank's counters is available during the business
hours of the respective Regional Office and is free of cost.
The serial numbers of counters where exchange facility is made available at
each Office are displayed at the banking hall of each Office of the Bank.
Mutilated/cut notes in closed covers are received in Triple Lock Receptacle
upto one hour after the close of normal business hours.
The mutilated/cut notes are exchanged by the Bank as of grace under the Reserve
Bank of India (Note Refund) Rules. When the mutilated/cut note is not found
payable under the Rules, the same is rejected and rejection advice issued to
the tenderer. The rejected note is retained by the bank and destroyed after
Notes/coins which are found to have been forged/ counterfeited are impounded
and no value thereof is paid. Such notes/coins are retained by the Bank after
issue of advice to the tenderer.
The security features of the bank notes issued by RBI are furnished as
information to members of the public in the Bank's website
In case any member of the public faces any difficulty in getting the above
exchange facilities at any RBI Offices or is asked for any bribe, he may record
a complaint in the complaint book/register maintained at the enquiry counter of
the Regional Office or bring it to the notice of the in-charge of the Issue
Department of the respective RBI Office. The designation and addresses of the
in-charges are furnished in the Annexure.
The staff and officers of the Reserve Bank will treat each member of the public
with courtesy and consideration. The staff will be helpful and will attend
promptly to the customer's enquiries and complaints.
Offices of the Reserve Bank are located at selected centers. The Bank has,
therefore, made arrangement for provision of the facility of exchange of soiled
notes, exchange of notes to coins and coins to notes at the branches of
scheduled commercial banks. While the facility for exchange of soiled notes is
available at all branches of public sector banks and currency chest branches of
private sector bank, the facility of exchange of mutilated / cut notes is
available only at the currency chest branches of commercial banks. A list of
the currency chest branches where the mutilated notes can be exchanged is
available at the enquiry counter of the RBI Offices. Such currency chest
branches also have instructions to display notice board regarding availability
of mutilated notes exchange facility. In case any such branch refuses to
provide the exchange facility, aggrieved members of the public can complain to
the Chairman and Managing Director/CEO of the commercial bank concerned. In
case the grievance is not redressed, the matter may be brought to the notice of
the concerned Regional Office of Reserve Bank of India.
Branches of other banks i.e. Co-operative Banks and Regional Rural Banks are
expected to exchange notes and coins at their convenience. They, however, do
not have powers to exchange mutilated notes.
In case any member of the public has any suggestion/comment to offer in regard
to the Citizen's Charter, he may write to the Chief General Manager, Department
of Currency Management, Reserve Bank of India, Central Office, Shahid Bhagat
Sing Marg, Mumbai - 400 001.
Addresses of RBI Issue Offices and their Jurisdiction