Please share your tips on how to avoid getting lumbered with the notes that are deemed only worth 40% of their original value.
Should I point blank refuse to accept any damaged Indian notes when I am changing money?
Should I refuse to accept damaged notes as change, when I buy something?
Any opinions on why this legal theft is considered to be reasonable in India, or why it is legal at all? Presuming it is legal that is?
Reply to this Indian paper money is among the most grubby, tatty and smelly you'll encounter anywhere - particularly the low denomination ones that get handled constantly by a billion people. However, I've never heard of damaged notes being worth less than face value - but perhaps that's because I've never accepted a note that was beyond redemption. The Indians themselves wouldn't consider accepting a badly damaged note, which is why they try to give them to you, the unwitting tourist who doesn't like to complain.
Don't have any of it!! If you're asked to take a bad note, just ask politely, with a smile, for an undamaged one instead. If they refuse, tell them that you are deeply offended by their attitude and assertively insist on a replacement. If all else fails, you could consider donating the bad note to a beggar.
Reply to this Thanks Mike 😊
If all else fails, you could consider donating the bad note to a beggar.
I tried to give one of the tatty notes to a beggar. She took it, but followed me around for a while trying to make me exchange it for an untatty one. And to make the situation even more tedious, every Indian person who say what was going on came over to explain to me what she wants.
Reply to this Bad luck Mel. Your choice of beggar was clearly at fault - you need one who's part of a beggarmaster's team (he'll have lots of options for disposing of bad notes, foreign coins, etc.) or one whose sight or mobility won't allow them to pursue you! The best bet, of course, is not to accept tatty notes in the first place - but you must always refuse with a knowing smile. 😊
Reply to this Bad luck Mel. Your choice of beggar was clearly at fault ....
LOL
I will remember to refuse all tatty notes on my visit to Mumbai in May.
After going to 4 different banks in Delhi I finally managed to get rid of all my tatty notes for the full value in crisp(well, crisper anyway) notes(These are the notes I will be using for my trip to Mumbai in May). It took a lot of manipulation, begging and even insulting of the bank tellers and it was overall boring. I have to practice that knowing look. I wouldnt want to undo all my work of getting good notes only to buy a bag of peanuts or ciggies and get a handful of ones cellotaped, with holes, with gashes ...... as change.
Reply to this Hey,
legally, people are supposed to accept these notes, but practically, people dont.
if you have some bad notes, you can exchange them in bank for good one.
Anand
Reply to this ....you can exchange them in bank for good one.
Sometimes you can exchange them at the bank. It was a time consuming chore to get the banks to accept them. I suppose, I could ask the police to enforce the law but I was on my way out of India before I discovered how difficult the banks were going to be about it.
Reply to this I think Indian government is reading this blog 😊. They have taken some steps to improve currency notes.
RBI (Reserve Bank of India) urged to switchover from paper to plastic currency notes (following what Australia has done)
PlasticNotes
Reply to this Indian currency is very low they need to do something to bring their currency level at high
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