RBI’s New Guideline on 500 Rupees Note, Know the Complete Information

500 Rupees Note : The Reserve Bank of India (RBI) has released a new guideline regarding ₹500 currency notes. If you also have ₹500 notes, it becomes very important to know what new rules have been issued by the RBI.

Since the discontinuation of the ₹2000 notes, several rumors and fake news have been spreading across social media regarding ₹500 notes. In such a situation, it is necessary to understand the official instructions given by the RBI. Read this article till the end to get the complete and detailed information.

500 Rupees Note : If You Have ₹500 Notes, Know RBI’s Rules

The Reserve Bank of India issues ₹100, ₹200, and ₹500 notes. Among them, the ₹500 note is currently the highest denomination note in circulation. Many times, people face problems when torn or mutilated notes come out of ATMs, which then become difficult to use.

Makan Marmat Yojana : The Government Will Provide ₹80,000 For Repairing A Broken House. This Is How You Can Avail The Benefits Of This Scheme.

Now, there is no need to worry anymore because the RBI has clarified that such notes can easily be exchanged at your nearest bank branch. Along with this, the RBI has also released new guidelines for identifying genuine ₹500 notes.

500 Rupees Note : RBI’s New Guidelines for Identifying ₹500 Notes

In the last few days, several reports and rumors regarding fake and unfit notes have gone viral on social media. Considering this, the RBI has introduced ways to identify genuine notes and also specified the conditions under which a ₹500 note will be considered “unfit.”

Jio Recharge Plan : Jio Launches ₹112 Monthly Recharge Plan, Offers Unlimited Calling and Much more for Free.

A ₹500 note will be considered unfit if:

• The note is torn from the edge to the middle.
• The note is excessively dirty, has stains, or has dirt/garbage stuck to it.
• The note is damaged due to heavy usage.
• The graphics or print on the note are distorted.

• The color of the note has faded.

  

  Kota Mandi Price : Wheat Crosses Rs 2600 And Paddy Crosses Rs 3300, Crop Prices Break Records

RBI’s Order

According to RBI’s guidelines, if you have old, torn, or damaged ₹500 notes, you don’t need to worry. You can exchange them at any bank branch. If any bank refuses to replace such notes, you can file a complaint directly through the RBI complaint portal.

This ensures that people do not face difficulties in using or exchanging unfit currency notes.