Reserve Bank of India (RBI) Note Refund Amendment Rules, 2018
The Reserve Bank of India (RBI) has made certain amendments in the Note Refund Rules for exchange of mutilated currency notes which can be read in detail here :
The changes, however, can be summarised as given below. According to the amendments, the notes can be refunded, as per the following criteria, based upon the denominations:
Less than Rs 20: One should have more than 50% of the note (single undivided piece) to get the full refund.
Rs 50 or above: One should have more than 80% of the note (single undivided piece) to get the full refund. If one has more than 40% and less or up to 80% (single undivided piece), he/she will get half of the value of note.