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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Master Direction - Facility for Exchange of Notes and Coins

01-Apr-2025 | RBI/2025-26/133 DCM (NE) No.G-5 /08.07.18/2025-26

RBI has issued "Master Direction - Facility for Exchange of Notes and Coins" effective from 1st April, 2025.

Key Highlights are as follows:
1. The provisions of these directions are applicable to all banks.
2. All banks branches are required to provide the following customer services to the general public, so that there will be no need to approach RBI Regional Offices:
i) Issuing of fresh/ good quality notes and coins
ii) Exchange of soiled/ mutilated/ imperfect notes &
iii) Accepting coins and notes for transactions or exchange.
3. The definition of the soiled notes, mutilated and imperfect notes as well as the notes that cannot withstand normal handling is specified.
4. Bank branches are required to send reports of notes adjudicated by the bank branches and the full value paid notes to the chest branches, which will then be reported by them to RBI Issue offices. Also all chest branches are required to submit a monthly statement showing the number of notes adjudicated.
5. All the bank branches are required to display at their premises at prominent place a board indicating the availability of note and coin exchange facility.
6. In case of any grievance of a tenderer, a complaint may be lodged with the bank branch concerned. And In case of no response within 30 days, the complaint can be lodged with the Ombudsman, under "The Reserve Bank - Integrated Ombudsman Scheme, 2021".

Kindly refer to the attachment for more information.

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