Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEconomy

Banks can accept coloured notes, but avoid dirtying them: RBI

The Reserve Bank of India on Thursday clarified that banks can accept colour-stained notes amid messages circulating on WhatsApp that public sector banks have been asked not to accept coloured Rs 2,000 and Rs 500 notes.

March 10, 2017 / 07:53 AM IST

The Reserve Bank of India on Thursday clarified that banks can accept colour-stained notes amid messages circulating on WhatsApp that public sector banks have been asked not to accept coloured Rs 2,000 and Rs 500 notes.In a statement, the central bank, however, has dissuaded citizens from colouring or dirtying currency notes.“It is true that we follow clean note policy and discourage people from abusing currency notes. But there is no instruction issued to banks saying they should not accept dirty notes,” the RBI said.

The directive assumes significance with Holi — the festival of colours — just around the corner. Every year, Holi celebrations — water balloons, jet sprays, etc — lead to soiling of the notes.

first published: Mar 9, 2017 09:49 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347