Mutilated note is a banknote that has been damaged or changed its appearance by accidental or unintentional contact with water, fire, chemicals etc.

These types of currency can be exchanged from a banking institution that is commercial banks where the customer is expected to have an account. Damaged Coins are referred as defaced coins and are exchanged at the counter at a full value. The mutilated currency should meet the following requirements:

• Not deliberately mutilated
• Currency must be genuine
• Must be at least 75% of the original banknote.
• Bear both signatures