RBI Issues Master Circular in Regard to Facility for Exchange of Notes and Coins

On 03rd April 2023 the Reserve Bank of India issued a Master circular on Facility for Exchange of Notes and Coins.

All branches of banks in all parts of the country are mandated to provide the following customer services, more actively and vigorously to the members of the public so that there there is no need for them to approach RBI Regional Offices to serve the purpose of –

• Issuing fresh/good quality notes and coins of all denominations
• Exchanging soiled/mutilated/defective notes
• Accepting coins and notes either for transactions or exchanges

All branches are to provide the above facilities to members of the public without any discrimination on all working days. The scheme of providing an exchange facility by a few select currency chest branches on one of the Sundays in a month will remain unchanged