In a statement the CBSL said that it had drawn attention of the general public for implementation of its 'Clean Note Policy' and regulation on the willfully mutilation, alteration or defacement of Sri Lanka currency notes. Further, the CBSL requests people to refrain from mutilation, alteration or defacement of Sri Lanka currency notes. According to the Monetary Law Act No. 58 of 1949, willfully mutilation, alteration or defacement of Sri Lanka currency notes is an offence and is punishable by imprisonment or fine or both.
After the deadline of December 31, 2017, the CBSL is not leagally bounded to entertain or retain such willfully mutilated or altered notes and therefore holders of such notes will have to suffer the loss of face value. However for currency notes which are not willfully mutilated, altered or defaced but damaged due to normal wear and tear during circulation can continue to be exchanged at CBSL and Licensed Commercial Banks as is the current practice, the CBSL further stated.
CBSL introduced Clean Note Policy aiming at maintaining the quality standards and thereby helping to distinguish between genuine notes and counterfeits.
- Amali Jayaweera
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