RBI Quells Rumours On Banks Accepting Scribbled Notes

The apex bank, in a notification, has shot down the buzz that has been going around for a month now regarding non-acceptance by banks of currency notes that have been scribbled on with effect from January 1, 2014 and said that banks would continue to honour all currency notes, scribbled or unscribbled on.

"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", the notification said.

The regulator further advised that it had issued instructions on August 14, 2013 only to banks advising them to instruct their officials not to scribble or write on the body of the banknotes, since it was observed that bank officials themselves were in the habit of doing so. 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 banknotes clean by not writing/scribbling anything on them.