Executive Summary:
This document contains the Reserve Bank of India Note Refund Amendment Rules, 2018, amending the 2009 rules. It defines the rules for refunding mutilated notes. The rules come into force on the date of publication in the Official Gazette. The notification number is RBIDCM NE No. 63108.01.01/2018-19, dated 5th September 2018.
Key Points / Main Content:
* **Amendment Overview:** Amends the Reserve Bank of India Note Refund Rules, 2009.
* **Rule 8 Amendments:**
* **Sub-rule 1(a)(i):** Replaces "one rupee, two rupee, five rupee, ten rupee and twenty" with "less than fifty rupees".
* **Sub-rule 1(a)(ii):** Substitutes the Explanation and Table 1 related to the refund value of mutilated notes less than fifty rupees denomination based on the undivided area of the single largest piece.
* **Sub-rule 2(i):** Changes the figures "65" to "80."
* **Sub-rule 2(ii):** Changes the figures "65" to "80."
* **Sub-rule 2(iii):** Substitutes clause (iv) related to the claim of mutilated notes of rupees fifty and above denominations composed of two pieces, specifying that if each piece is equal to or more than 40% of the total area, the claim may be refunded for the full value.
* **Sub-rule 2(iv):** Substitutes the Explanation and Table 2 related to the refund value (full or half) of mutilated notes of rupees fifty denomination and above based on the minimum undivided area of the single largest piece.
Impact Analysis:
* **Reserve Bank of India:**
* *Impact:* Must implement the amended rules for note refunds.
* *Action Required:* Update internal processes and guidelines to align with the new rules.
* **Central Government:**
* *Impact:* Oversight of the Reserve Bank of India's implementation of the amended rules.
* *Action Required:* Ensure the rules are properly enforced.
* **General Public/Customers:**
* *Impact:* Changes the eligibility criteria and process for obtaining refunds on mutilated notes.
* *Action Required:* Familiarize themselves with the new rules to understand the conditions for refunding mutilated notes of different denominations.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Reserve Bank of India Act, 1934: An act of the Indian Parliament that established the Reserve Bank of India.
Central Government: The executive branch of the Government of India.
Reserve Bank of India Note Refund Rules, 2009: The principal rules governing the refund of mutilated or defective banknotes issued by the Reserve Bank of India.
Reserve Bank of India Note Refund Amendment Rules, 2018: The amendment rules to the Reserve Bank of India Note Refund Rules, 2009.
Mumbai, Maharashtra: The location where the Reserve Bank of India notification was issued.
B. P. Kanungo: Deputy Governor of the Reserve Bank of India, signatory of the notification.
New Delhi: Location of Government of India Press.
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EXTRAORDINARY
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PART III—Section 4
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PUBLISHED BY AUTHORITY
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No. 338] NEW DELHI, THURSDAY, SEPTEMBER 6, 2018/BHADRA 15, 1940
भभभभााााररररततततीीीीयययय (cid:8)(cid:8)(cid:8)(cid:8)ररररजजजजवववव (cid:11)(cid:11) (cid:11)(cid:11)बबबबकककक(cid:13)(cid:13)(cid:13)(cid:13)
अअअअििििधधधधससससचचूूचचूू ननननाााा
मुंबई, 5 िसत(cid:4)बर 2018
आआआआररररबबबबीीीीआआआआईईईई////डडडडीीीीससससीीीीएएएएमममम ((((एएएएननननईईईई)))) सससस....ंंंं 666633331111////00008888....00001111....00001111////2222000011118888----11119999....————भारतीय (cid:12)रजव(cid:15) बक(cid:16) अिधिनयम, 1934 (1934 का
2) क(cid:24) धारा 58 क(cid:24) उपधारा (1) तथा उप धारा (2) के ख(cid:31)ड (थ) के साथ प(cid:12)ठत उ$ अिधिनयम क(cid:24) धारा 28 के परंतकु ’ारा
(द* शि$य, का (योग करत े /ए, क12 सरकार क(cid:24) पूव (cid:15) मंजूरी के साथ भारतीय (cid:12)रजव (cid:15) ब(cid:16)क के क12ीय बोड (cid:15) न े भारतीय (cid:12)रजव(cid:15)
ब(cid:16)क (नोट वापसी) िनयमावली, 2009 म 1सशं ोधन कर िन8िलिखत िनयम बनाए ह,(cid:16) अथा(cid:15)त :—
1. लघ ुशीषक(cid:15) तथा (ार(cid:4)भ
(1) इन िनयम, को भारतीय (cid:12)रजव(cid:15) ब(cid:16)क (नोट वापसी) सशं ोिधत िनयमावली, 2018 कहा जाएगा ।
(2) य ेसरकार के राजप? म1 उसके (काशन क(cid:24) तारीख स ेअमल म 1आएंग े।
2. भारतीय (cid:12)रजव (cid:15)ब(cid:16)क (नोट वापसी) िनयमावली, 2009 के िनयम 8 म 1:-
(क) उप िनयम (1) म,1
(i) “एक Bपया, दो Bपया, पाचँ Bपया, दस Bपया तथा बीस” शEद, को “पचास Bपय ेसे कम” शEद म 1बदला जाए;
(ii) “FपGीकरण” तथा “सारणी 1” के िलए िन8िलिखत बदलाव Iकया जाएगा, अथा(cid:15)त
“FपGीकरण – इस उप िनयम हते ु, यह FपG Iकया जाता ह ै Iक पचास Bपये से कम मूKयवग(cid:15) के कटे फटे नोट के पणू (cid:15) मूKय का
भुगतान तभी Iकया जा सकता ह,ै जब (Fतुत नोट का सबसे बड़ा टुकड़ा िन8 सारणी 1 के कॉलम 5 म1 दशा(cid:15)ए अनसु ार हो ।
5247 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
ससससााााररररणणणणीीीी 1111
मू(cid:3)यवग(cid:7) लंबाई चौड़ाई (cid:15)े(cid:17) पूण(cid:7) भुगतान हते ु
(स(cid:10)टीमीटर) (स(cid:10)टीमीटर) (वग(cid:7) स(cid:10)टीमीटर म(cid:10)) आव(cid:28)यक (cid:30)यूनतम (cid:15)े(cid:17)
(वग(cid:7) स(cid:10)टीमीटर म(cid:10))
(1) (2) (3) (4) (5)
1 9.7 6.3 61.11 31
2 10.7 6.3 67.41 34
5 11.7 6.3 73.71 37
10 13.7 6.3 86.31 44
10 (नई महा मा गांधी 12.3 6.3 77.49 39
#ृंखला)
20 14.7 6.3 92.61 47
20 (नई महा मा गांधी 12.9 6.3 81.27 41
#ृंखला)
* “% येक मू(cid:3)यवग(cid:7) म(cid:10) नोट’ के (cid:15)े(cid:17) के आधे के बाद अगले पूण(cid:7) अिधक वग(cid:7) स(cid:10)टीमीटर के -प म(cid:10) दशा(cid:7)या गया है ।”
(ख) उप िनयम (2) म,1 -
(i) ख(cid:31)ड (i) म1 आकं ड़ े“65” को आंकड़ े“80” म 1बदला जाए;
(ii) ख(cid:31)ड (ii) म1 आकं ड़ े“65” को आकं ड़ े“80” म 1बदला जाए;
(iii) ख(cid:31)ड (iv) को िन8िलिखत खंड म1 बदला जाए;
“यIद पचास Bपय ेऔर इसस ेअिधक मूKयवग(cid:15) के कटे फटे नोट, के दाव ेम 1(Fतुत नोट को उसी नोट के दो टुकड़, स ेबनाया गया
हो और (Pयेक टुकड़ े का Qे?, अलग–अलग, उस मूKयवग(cid:15) के नोट के कुल Q?े का 40 (ितशत स े अिधक अथवा समान हो तो
नोट के दावे का पणू (cid:15) भुगतान Iकया जाए ।”
(iv) “FपGीकरण” तथा “सारणी 2” को िन8िलिखत म 1बदला जाए अथा(cid:15)त :-
“FपGीकरण - इस उप िनयम हते ु, यह FपG Iकया जाता ह ै Iक यIद नोट के सबस े बड़ े टुकड़ े का Sयूनतम अिवभािजत Qे? नीच े
सारणी 2 के कॉलम (5) अथवा (6) म1 दशा(cid:15)ए अनुसार हो तो पचास Bपये और इससे अिधक मूKयवग(cid:15) के कटे फटे नोट, के मूKय
का भुगतान पूण(cid:15) अथवा आधा, जैसा भी मामला हो, Iकया जाए ।
ससससााााररररणणणणीीीी 2222
मू(cid:3)यवग(cid:7) लंबाई (स(cid:10)टीमीटर) चौड़ाई (cid:15)े(cid:17) (वग(cid:7) पूण(cid:7) भुगतान हते ु आधा भुगतान हते ु
(स(cid:10)टीमीटर) स(cid:10)टीमीटर म(cid:10)) आव(cid:28)यक (cid:30)यनू तम आव(cid:28)यक (cid:30)यूनतम
(cid:15)े(cid:17) (वग(cid:7) (cid:15)े(cid:17) (वग(cid:7)
स(cid:10)टीमीटर म(cid:10))@ स(cid:10)टीमीटर म(cid:10))**
(1) (2) (3) (4) (5) (6)
50 14.7 7.3 107.31 86 43
50 (नई महा मा गांधी 13.5 6.6 89.10 72 36
#ृंखला)
100 15.7 7.3 114.61 92 46
100 (नई महा मा गांधी 14.2 6.6 93.72 75 38
#ृंखला)
200 14.6 6.6 96.36 78 39
500 15.0 6.6 99.00 80 40
2000 16.6 6.6 109.56 88 44¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
@ % येक मू(cid:3)यवग(cid:7) के नोट के (cid:15)े(cid:17) के 80% से अगले पूण(cid:7) उ6 वग(cid:7) स(cid:10)टीमीटर म(cid:10) पूणा78कत ।
** % येक मू(cid:3)यवग(cid:7) म(cid:10) नोट के (cid:15)े(cid:17) के 40% से अगले पूण(cid:7) उ6 वग(cid:7) स(cid:10)टीमीटर म(cid:10) पूणा78कत ।
बी. पी. काननु गो, उप गवन(cid:15)र
[िवUापन-III/4/असा./216/18]
ननननोोोोटटटट :::: (मुख िनयम Iदनाकं 17 जलु ाई, 2009 क(cid:24) अिधसूचना सXं या 125 के माYयम स े भारत का राजप?, असाधारण,
भाग III, धारा 4 म1 (कािशत Iकए गए थे ।
RESERVE BANK OF INDIA
NOTIFICATION
Mumbai, the 5th September, 2018
RBI/DCM (NE) No. 631/08.01.01/2018-19.—In exercise of the powers conferred by the proviso to
section 28 read with sub-section (1) and clause (q) of sub-section (2) of section 58 of the Reserve Bank of
India Act, 1934 (2 of 1934), the Central Board of the Reserve Bank of India with the previous sanction of the
Central Government hereby makes the following rules to amend the Reserve Bank of India (Note Refund)
Rules, 2009, namely:—
1. Short title and commencements:-
(1) These rules may be called the Reserve Bank of India (Note Refund) Amendment Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Reserve Bank of India (Note Refund) Rules, 2009, in rule 8, -
(a) in sub-rule (1),
(i) for the words “one rupee, two rupee, five rupee, ten rupee and twenty”, the words “less than fifty
rupees”, shall be substituted;
(ii) for the “Explanation” and “Table 1”, the following shall be substituted, namely: -
“Explanation : For the purposes of this sub-rule, it is hereby clarified that the value of a mutilated note of less
than rupees fifty denomination may be refunded in full if the undivided area of the single largest piece of the
note is as specified in column (5) of the Table 1 below.
TABLE 1
Denomination Length (cm) Width (cm) Area (in cm2) Minimum area (in cm2)
required for payment of
full value*
(1) (2) (3) (4) (5)
1 9.7 6.3 61.11 31
2 10.7 6.3 67.41 34
5 11.7 6.3 73.71 37
10 13.7 6.3 86.31 44
10 (New MG Series) 12.3 6.3 77.49 39
20 14.7 6.3 92.61 47
20 (New MG Series) 12.9 6.3 81.27 41
*Indicated as the next complete higher square centimetre after half of the area of the notes in a particular
denomination.”;
(b) in sub-rule (2), -
(i) in clause (i), for the figures “65”, the figures “80” shall be substituted;
(ii) in clause (ii), for the figures “65”, the figures “80” shall be substituted;4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(iii) for clause (iv), the following clause shall be substituted: -
“if the claim of mutilated notes of rupees fifty and above denominations consist of a note composed of two
pieces of the same note and the two pieces, individually have an area equal to or more than 40 percent of the
total area of the note in that denomination, then the claim may be refunded for full value of the note.”;
(iv) for the “Explanation” and “Table-2”, the following shall be substituted namely: -
“Explanation : For the purposes of this sub-rule, it is hereby clarified that the value of a mutilated note of
equal to or more than rupees fifty denomination may be refunded in full or half, as the case may be, if the
minimum undivided area of the single largest piece of the note is as specified in column (5) or (6) of the Table
2 below.
TABLE 2
Denomination Length Width Area (in cm2) Minimum area Minimum area (in
(cm) (cm) (in cm2) cm2) required for
required for payment of half
payment of full value**
value@
(1) (2) (3) (4) (5) (6)
50 14.7 7.3 107.31 86 43
50 (New MG Series) 13.5 6.6 89.10 72 36
100 15.7 7.3 114.61 92 46
100 (New MG Series) 14.2 6.6 93.72 75 38
200 14.6 6.6 96.36 78 39
500 15.0 6.6 99.00 80 40
2000 16.6 6.6 109.56 88 44
@ Rounded off to the next complete higher square centimetre of 80% of the area of the notes in a particular
denomination.
** Rounded off to the next complete higher square centimetre of 40% of the area of the notes in a particular
denomination.”.
B. P. KANUNGO, Dy. Governor
[ADVT.-III/4/Exty./216/18]
Note : The principal rules were published in the Gazette of India, Extraordinary, Part III, Section 4 vide
notification number 125 dated the 17th July, 2009.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.