Currency Note Exchange Camp Held in Bhubaneswar After RBI Torn Note Drama

Bhubaneswar: Following the incident of disgruntled customers throwing torn notes outside the Reserve Bank of India (RBI) office, Canara Bank took proactive steps to assist people in exchanging soiled or mutilated currency notes. A special program was organized at Unit-8, Bhubaneswar, with the inauguration ceremony graced by Sharada Prasanna Mohanty, the Regional Director of RBI Bhubaneswar.

Mohanty clarified that there is an existing provision for individuals to exchange torn, soiled, or mutilated notes at various banks throughout the state. He mentioned that the RBI is encouraging banks to hold such events through currency chests and is providing technical assistance. District-level fairs are also being planned to facilitate this process.

In cases where banks refuse to accept damaged notes, people are encouraged to file complaints with the RBI ombudsman. To ensure compliance, the RBI has established inspection squads that conduct surprise visits to banks to verify their acceptance of torn and soiled notes. Additionally, considering the inconvenience faced by residents in remote areas who cannot easily reach Bhubaneswar, similar exchange programs will be organized at the district level.

This year, banks in Odisha have successfully exchanged Rs 7-8 crore worth of torn and soiled banknotes, as reported by Mohanty.