According to RBI, a mutilated note is a note of which a portion is missing or which is composed of more than two pieces. “Mutilated notes may be presented at any of the bank branches. The notes so presented shall be accepted, exchanged and adjudicated in accordance with NRR, 2009,” RBI said in the statement.

Can bank refuse to take torn notes?

However, you need not to worry if you get such notes. Actually, the bank cannot refuse to exchange the torn or damaged note received from the ATM. According to the rules of the Reserve Bank of India (RBI), if you ever get such torn or damaged notes from ATM then how can you easily replace them with the bank.

Is ripped money still usable?

You can use your cash as is if a corner is missing. If it's ripped into two pieces, tape them back together and take the bill to a bank, where they will make sure the serial numbers on both sides of the note match and give you a new one.