Have you received a damaged ticket from an ATM? Check how to exchange it for a new one


From banknotes bearing someone’s name or slogan to soiled and damaged banknotes, we often come across banknotes in damaged conditions. Many of these banknotes remain in circulation in India and you may one day receive one from an ATM. Although we can refuse to accept damaged tickets from a seller or person, we do not have the option of returning these tickets to the ATM. However, according to the Reserve Bank of India (RBI), you can have the damaged banknotes exchanged in certain cases.

How to exchange?

According to the RBI, a person can exchange soiled, mutilated or damaged banknotes for new banknotes at the counters of any public sector bank branch. Furthermore, one can also exchange these notes at any foreign exchange bank branch of a private sector bank and also at any issuing office of the RBI. When you approach a bank branch to exchange tickets, you are not required to fill out any form.

RBI also provides an exchange facility for mutilated tickets through Triple Lock Receptacle (TLR) covers. In this method, one can get a TLR cover from the RBI inquiry desk and put the damaged ticket in it. You must write the details including your name, address and denominations of the deposited notes in the columns on the cover before depositing them in the triple lock box. You will receive a paper token after submitting the damaged notes.

Once the Note is deposited, the Eligible Exchange Power of the Currency Notes is transferred to the Depositor by bank draft or payment order.


It should be noted that there are certain conditions under which a rated Indian currency is accepted for exchange. According to the RBI, soiled banknotes are those that are slightly cut, have stains, have become dirty or are in two pieces. These soiled banknotes can be exchanged for new banknotes provided that the cut does not cross the numbered panels of the banknote.

Mutilated notes are defined by the RBI as notes in which essential parts are missing. The parts include the name of the issuing authority, the guarantee, the clause, the promise, the signature, the Ashoka pillar, the emblem, the portrait of Mahatma Gandhi and the watermark. These tickets can also be exchanged easily, but the exchange value is paid according to the RBI ticket refund rules.

For banknotes which are excessively dirty and brittle or which have been burned, charred or inseparably stuck together, the RBI states that such banknotes cannot withstand normal handling and will not be accepted by any bank branch for exchange.

Dirty banknotes are exchanged free of charge by banks at the counter as long as the number of banknotes presented does not exceed 20 coins and whose value does not exceed Rs 5,000 per day. If the number of soiled banknotes is more than 20 and the value is more than Rs 5,000 per day, the bank will accept them against receipt and credit the value later. The bank may also apply service charges as per RBI rules.

In the case of mutilated and imperfect banknotes, one can obtain the exchange value at the counter of the bank branch when the number of coins is up to 5. When the mutilated banknotes are in bulk and their value is greater than Rs 5,000, then the RBI advises sending them by insured post to the nearest cash box branch providing bank details. Or, one can also have them redeemed in person at the chest branch.

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