Correct option is B
According to the Reserve Bank of India (Note Refund) Rules, 2018, notified under Section 28 of the RBI Act, 1934, a “mutilated note” is defined as: "A note of which a portion is missing, or which is composed of more than two pieces, is termed as a mutilated note.”
Such notes may be exchanged at designated bank branches and RBI Issue Offices, subject to conditions — mainly that the remaining portion of the note is sufficient to establish its genuineness and to assess its value as per the prescribed area-based refund criteria.
Mutilated notes differ from soiled notes, which are simply dirty, disfigured, or damaged through normal wear and tear but remain in one piece.
English
190 Questions
200 Marks
160 Mins
