Burned and torn notes can be exchanged in the movement?

In the current situation, when going to exchange burnt or torn notes, banks and financial institutions will ask for proof of how they were burnt or torn.

Ashwin 5, 2082

Yagya Banjade

Burned and torn notes can be exchanged in the movement?

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During the Gen-G movement and demonstrations on August 23 and 24, photos and videos of burning notes in some private residences that were arson and vandalized are being published. The exact fact of how many notes of which rates were in whose house has not been made public.

Videos and photos of the partially burnt and torn notes taken by the protestors have also been made public. Along with this, partially burned or torn notes can be/are not available to go to banks and financial institutions and Rashtra Bank to exchange/replace (substitution/replacement) ? The interest is everywhere . 

If the notes we have are torn, soiled, soiled, dirty, partially burned notes, they will be exchanged by Rashtra Bank and banks and financial institutions based on official evidence. Rastra Bank has also made policy arrangements for exchanging such notes. Burned and torn notes are also exchanged during the

movement. It is not so easy to exchange such notes.  Even if there is a legal system where notes can be exchanged, a certain procedure should be followed for that . If you go to exchange a lot of burnt or torn notes, the concerned person should get a recommendation from the police or government agency. For recommendations, the police or other government agencies give proof of burning only based on the evidence of how that money was burned. However, in normal circumstances, banks and financial institutions and the National Bank do not ask for recommendations from government bodies when exchanging some notes.

Nepal Rastra Bank source said that when going to exchange burnt or torn notes in the current situation, banks and financial institutions will ask for proof of how they were burnt or torn. If many notes that are burnt or torn at the same time come for verification, the proof of the incident must be verified by the relevant government agency. Therefore, the details of the fire or how the notes were destroyed should be reported to the police. Based on the same report, banks and financial institutions and the National Bank will exchange.

This is the legal arrangement. At first, the citizen has to apply (submit claim) for exchange of such notes that he has. If the note in someone's possession is burnt, eaten by insects, torn, soaked in water or in any other way unfit for circulation, such a person should fill the form provided by the bank and submit an application to the relevant authority. That officer has the right to make a decision regarding the exchange of the

note claim. According to which, authorized third class for notes up to 100 rupees and authorized second class for notes above 100 rupees have been appointed.

What notes can be exchanged? To exchange

, more than 50 percent of the note and the full number of the note must be in a state that can be ascertained . It has been stated that more than 50 percent of the note means that even if the note is torn into pieces and divided into two or more parts, it can be determined that they are pieces of the same note .

However, if the number of the note is erased, obscured, torn, distorted, mismatched, corrected, arbitrarily written or drawn on the note, it cannot be exchanged . On the claim for exchange of notes, the concerned officer will check the rate and full number of the note and confirm that it has more than 50 percent parts and cannot be exchanged twice, and the full value of such notes will be paid . Within 35 days from the date of submission of the note claimed for counterfeiting, the officer has to give a decision whether or not to counterfeit.

Fire or divine disaster notes can be exchanged ?

For such notes, the occurrence of fire or other natural calamity must be verified by the relevant police office or municipality or rural municipality or an authorized officer according to prevailing laws . However, if the rate and full number of the note cannot be identified, it cannot be exchanged . There is a provision to exchange such notes only after verifying the practice of double exchange of such notes.

What notes cannot be exchanged ?

is not a substitute for odd, corrected and arbitrary notes. In order to exchange notes that have been damaged by fire or other natural calamities, it must be certified by the relevant police office or municipality or rural municipality or authorized officer according to prevailing laws. It is not exchangeable if not certified as such . Similarly, if the rate and full number of the note cannot be identified, it cannot be exchanged . The concerned authority has been given the right to evaluate and make the final decision as to whether the

note is redeemable/not. If there is a situation where the notes cannot be exchanged, the authority also has the right to confiscate those notes .

Damaged coins can also be exchanged ?

If you come to exchange a coin that is destroyed by fire, scratched or in any other way, it is possible to exchange another coin of the same value after determining the rate from the National Bank. But if the rate of such coins for which a claim has been submitted for speculative admission cannot be ascertained, then they cannot be exchanged .

Yagya

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