If a customer presents a banknote torn into two pieces joined together with tape, where both pieces clearly belong to the same note (matching serial numbers) and essential security features are present, how should the bank handle it under RBI Note Refund Rules?

Question

General Studies · Note Refund Rules

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Accept the note and pay full value as the pieces match and form a complete note with intact key features.

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Answer 1

Require an indemnity bond before exchanging the note.

Answer 2

Pay only half value for any note in two pieces.

Answer 3

Accept the note and pay full value as the pieces match and form a complete note with intact key features.

Answer 4

Reject the note completely as defaced currency.

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