Reserve Bank of India (RBI) clarifies on ‘scribbled notes’ rumour. Writing on Bank Notes – Clean Note Policy of RBI.
In the past couple of days, there were rumours in the local media that the RBI has directed banks to stop accepting notes that were scribbled upon. The RBI has clarified that it has issued no such direction and banks will honour all currency notes, scribbled and un-scribbled.
Scribbling on the top of the note is a widespread practice especially among bankers and shopkeepers to keep a count of the number of notes in a stack.
Some reports in the local media advised customers to exchange such scribbled bank notes with their bank branches before December 31, 2013 and get fresh notes issued instead.
The Press Release – 2013-2014/1311 follows:
In the wake of rumours circulating in the market that from January 1, 2014, banks will not accept banknotes with anything written on them, the Reserve Bank has urged members of public not to fall prey to such rumours and to use their banknotes without any fear. The Reserve Bank of India has clarified it has NOT issued any such instructions.
It has further clarified that it had issued instructions on August 14, 2013 only to banks advising them to instruct their staff not to scribble or write on the body of the banknotes since it was observed that the bank officials themselves were in the habit of writing on banknotes which went against the Reserve Bank’s Clean Note Policy.
Reiterating that writing or scribbling on banknotes works against its Clean Note Policy, the Reserve Bank has also sought co-operation from all members of public, institutions and others in keeping the banknotes clean by not writing/scribbling anything on them.
Principal Chief General Manager