According to the rules of RBI, banks cannot refuse to take any kind of notes other than fake notes. If any bank does this, you can complain about it.
Many times the same note becomes useless while roaming in the market. Either it gets cut or it starts bursting. Then after some time their condition becomes such that everyone refuses to accept that note. So what will happen to these notes now? Now in such a situation it is said that go to the bank and deposit the notes… but many times the bank also refuses to accept these notes.
But, according to RBI rules, banks cannot refuse to accept any kind of notes other than fake notes. If any bank does this, you can complain about it.
Bad notes can be changed
If you come across a mutilated note from somewhere or you already have it, you can easily get it changed by going to the bank. For this, RBI has also issued circular for banks. If the bank refuses to do so, then you can complain about them by going to the Reserve Bank of India. Please tell, at a time a person can exchange only 20 notes. At the same time, it should not be more than 5 thousand rupees in total. The bank will replace the mutilated note with the correct note immediately. If you have torn notes in large quantities, then the bank replaces them with some time.
You can also complain and help here
The bank puts some conditions in front of you to replace the mutilated. If someone has torn it forcibly or intentionally, the bank will not replace it. Nor can you complain about it. If you have such a note then you can take it to the RBI office. There you will have to submit this note by filling a form. Then the Reserve Bank gives you money in exchange for your note.