CBSL to stop making payments for defaced currency notes

CBSL to stop making payments for defaced currency notes

June 16, 2017   05:30 pm

The Central Bank of Sri Lanka says that it will not make payments to mutilated, altered or defaced currency notes after December 31, 2017. 

In a statement issued today, the CBSL said that the mutilation, alteration or defacement of currency notes is an offence under the Monetary Law Act (MLA) No. 58 of 1949, and is punishable by imprisonment or a fine or both. 

“The holders of these currency notes will have to suffer the loss of face value of such notes.”

The public is advised to refrain from such practices and CBSL requests the public to exchange such currency notes with branches of licensed commercial banks. 

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