Does Indian currency note with anything written on it become invalid?
Recently, several messages were being circulated over the internet claiming that a currency note will be rendered invalid if something is written over it.
You must have come across Indian rupee notes with something written over it. But does it mean that writing anything makes a currency note invalid? Recently, several messages were being circulated over the internet claiming that a currency note will be rendered invalid if something is written over it.
The Centre's information wing, the Press Information Bureau, has busted this fake news.
“NO, Bank notes with scribbling are not invalid & continue to be legal tender. Under the Clean Note Policy, people are requested not to write on the currency notes as it defaces them & reduces their life”, the PIB's Fact check handle tweeted.
A man counts Indian currency notes inside a shop in Mumbai. (REUTERS)
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What is the Clean Note policy?
In 1999, the Reserve Bank of India had announced this policy, under which several steps were taken to augment the supply of currency notes and coins. The people were urged not to write on the currency notes and the banks were asked to provide ‘unrestricted’ facility for exchange of soiled and mutilated notes.
“As per the Reserve Bank instructions, currency chest branches of the banks must offer, even to non-customers, good quality notes and coins in exchange for soiled and mutilated notes, the RBI's official website stated.
In 2016, the RBI on its website had denied messages being circulated claiming that the currency notes being scribbled would be declared invalid. “The Reserve Bank has reiterated that all currency notes issued by it are legal tender and banks and members can freely and without fear accept them in exchange for goods and services", the central bank had said.
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