CBSL To Stop Making Payments For Defaced Currency Notes

The Central Bank yesterday said that it will not make payments to mutilated, altered and defaced currency notes after December 31, 2017. The Bank in a statement said that the holders of these currency notes will have to suffer the loss of face value of such notes.

“Mutilation,alteration or defacement of currency notes is an offence under the Monetary Law Act No 58 of 1949, and is punishable by imprisonment or a fine or both. The statement added that no claims in respect of the willfully mutilated or altered notes shall be entertained and such notes shall be retained by the CBSL.

© 2017 Asian Mirror (pvt) Ltd