Question asked in RTI
Is there any circular from the Note Issue Department of RBI regarding the disqualification of small denomination coins as legal tender.
If anything is written by pen or any ink mark on new Rs. 500 and Rs. 2000 then will they ceased to be a legal tender. Kindly clarify in this matter.Online GST Certification Course by TaxGuru & MSME- Click here to Join
Reply to RTI
The small coins up to 25 paise ceased to be legal tender with effect from June 30, 2011 in terms of Gazette Notification No. 2529 dated December 20, 2010.
Bank notes with writing or ink mark on them continue to be legal tender, however, bank notes bearing religious or political messages will not be treated as eligible for exchange as per Note Refund Rules, 2009.