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All banks are authorised to accept soiled banknotes at full value. These notes should be accepted over bank counters in payment of government dues and for credit to accounts of the public maintained with banks.

Mutilated notes of 100 pieces and above per remittance shall be debited immediately. Penalty may be levied on reaching a limit of 100 pieces in a cumulative manner. iv. Penalty of ? 5000 for each irregularity.

A note which gets dirty over time and is torn is called a soiled note and when the note is split into more than two pieces or is torn is called a mutilated note. Soiled and mutilated notes can be exchanged with new notes by the bank.

Objective of the Citizens' Charter This Citizens' Charter provides information on various facilities provided by the Reserve Bank of India (RBI) in the matter of exchange of notes and coins and the common standards of the services provided at RBI Issue Offices and designated branches.

Services Available at RBI Issue Offices The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins.

Citizen's Charter purpose is to make customers aware of his rights and responsibilities in dealing with the Bank, as also the various products and services made available by the Bank.

The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins. The Bank is committed to provide exchange facility free of cost at its counters during business hours.

Notes which have become excessively soiled, brittle or are burnt and, therefore, cannot withstand normal handling can be exchanged only at Issue Office of the RBI. Persons holding such notes may approach the Officer-in-charge of the Claims Section, Issue Department of the Reserve Bank for this purpose.

The proposed bank must first receive approval for a federal or state charter. The Office of the Comptroller of the Currency (OCC) has exclusive authority to issue a federal or "national bank" charter, while any state (and the District of Columbia, Guam, Puerto Rico, and the Virgin Islands) may issue a state charter.

Acting Comptroller of the Currency Michael J. Hsu became Acting Comptroller of the Currency on . The Comptroller of the Currency is the administrator of the federal banking system and head of the OCC.