NEWS & ADVICE : PERSONAL LOAN
Scribbled notes will be accepted by banks as per clarification of RBI
By Vaibhav Aggarwal
Jan 2, 2014
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In order for the currency notes to be free from scribbling the opportunity of a rumor was seized by the Reserve Bank of India. There were rumors recently in the local media stated that banks were directed by the RBI not to accept notes which had any kind of scribbling on them. However, this was clarified later on by the RBI that it was not true.

 Any currency note, be it clean or scribbled on, will be honored by the banks as per the Central Bank. As a practice which is spread widely, the scribbling which is done on the note is practiced especially by shop keepers and bankers to keep a track of the number of notes they have in stack.

In some of the local media reports, customers were advised to exchange any such notes that they had which were scribbled upon with the branches of their bank and to obtain new notes instead.


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