Banks can’t refuse scribbled notes, says RBI circular
After the distribution of JIO Sims, demonetization was the factor that was capable of drawing the Indian public to long lines on the road and was a title – tattle on the internet. The new notes were the hot topic for days and the stories of people suffering during the long trail were famous. After demonetization came the problems of faded notes and the scribbled notes. Social Media has been flourished with the news that the banks were rejecting the scribbled notes. Bank Branches said that they were not acceptable. In response to which, RBI said that that the banks cannot refuse the faded notes or the scribbled notes. The Central Bank said that the notes must be treated according to the RBI’s “clean note policy” and these notes are “soiled notes”. The RBI solicited cooperation from public to not scribble on the bank notes and keep them clean.
Reserve Bank of India sent the circulars to the banks after encountering the complaints from the public that the banks were not accepting the banknotes and especially those of 500 and 2000 with anything scribbled on them or were faded or smudged due to washing. The new notes withered due to any contact with water or by erroneous washing. They loosened ink.
The following rumors in social media gained attention that the banks refused to accept the notes with anything written on them.
The RBI brought to people’s notice the statement from December 2013 issued in response to the misinformation that from 2017, the banks will not accept notes with anything scribbled on them. The RBI claimed that they did not make any such statement.
The central bank made it clear that the refusal for scribbling over the notes was directed to the staff personals. This was when RBI viewed carefully that the bank workers themselves had a tendency to write on the notes which were against the central bank’s policy of clean note. The RBI asked people and corporations to not write anything on the notes and keep them clean.