Torn currency notes: Are banks violating the rules?
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Have you ever received damaged notes from the ATM dispenser? One customer experienced this on two occasions and asked whether the banks were violating the rules in terms of damaged notes. The Central Bank needs to address this issue urgently and warn banks against this practice. According to the Central Bank of Sri Lanka Act, intentionally damaging a Sri Lankan currency note is considered an offence while damaged or mutilated notes can be exchanged at a commercial bank or directly at the Central Bank for its full value.
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