BB asks banks to exchange torn, defective, soiled notes

Bangladesh Bank (BB) has ordered all scheduled banks to strictly adhere to the ‘Clean Note Policy’ by accepting and exchanging torn or mutilated, defective, and soiled notes from the general public to ensure the quality of currency in circulation. The central bank observed that despite previous instructions, an abundance of torn and mutilated notes remains in the market, said a BB circular issued today. 

The directive, effective immediately, is aimed at maintaining a natural and smooth flow of cash transactions for the public. The central bank clarified that while the exchange service must be provided for notes of various denominations, banks must place special emphasis on small denominations, specifically Tk 5, 10, 20, and 50.  To facilitate this and avoid public harassment, all bank branches are required to utilize special counters to receive these notes and provide exchange value through fresh or re-issuable notes.