The Central Government has made amendments to the Reserve Bank of India (Note Refund) Rules, 2009. The amended rules called “the Reserve Bank of India (Note Refund) Amendment Rules, 2018” are effective from Gazette notification date September 6, 2018. The amendment to rules would help the public to exchange mutilated notes in Mahatma Gandhi (New) series at bank branches and RBI offices, which are smaller in size compared to the earlier series.
Salient feature of exchange rules detailed in the amendments:
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