Change notes here
You can change these notes by going to any bank branch near you. But this facility is not available in every bank. Bank employees cannot refuse to change your note. The Reserve Bank of India (RBI) has explicitly instructed all banks to change the mutilated notes. Also, they have to put up board about this facility in their branches.
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You get so much for 2000 rupee notes
According to RBI rules, how much the note is torn depends on its condition. According to the information available on the official website of the Reserve Bank of India, if 88 rupees centimeter (cm) of 2000 rupee note will get full money, while 44 square CM will get half the money.
Banks do not charge any fees
The bank does not charge you any fees for exchanging torn notes. This service is provided free of cost by the bank. However, the bank may refuse to exchange such notes which are extremely bad or badly burnt. If the bank suspects that the note has been intentionally cut, they will not be changed either.
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How much will be the refund?
For full refund of old torn notes of Rs 50, Rs 100 and Rs 500, it will be necessary that your note is divided into 2 parts, one part of which covers 40 percent or more of the entire note.