Explain clean note policy in India?

Question

Accepted Answer

Clean note policy is a practice of ensuring that banknotes in circulation are not soiled, torn or damaged.

The policy was introduced by the Reserve Bank of India in 2001.
The aim is to maintain the quality of banknotes in circulation and to reduce the circulation of soiled and mutilated notes.
Banks are required to provide clean notes to customers over the counter and through ATMs.
Customers can exchange soiled or torn notes for clean ones at banks.
The policy also includes the use of machines to detect and sort soiled and mutilated notes.
The RBI periodically conducts campaigns to create awareness about the clean note policy among the public.

Top HR questions asked in IDFC FIRST Bank Senior Branch Operation Executive