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Defaced notes accepted upto March 31, 2018

The deadline for exchanging willfully defaced or altered currency notes with banks has been further extended by three months till March 31, 2018, following instructions given by President Maithripala Sirisena to the Central Bank of Sri Lanka.

Earlier, the Central Bank had decided that payments should not be made in respect of willfully defaced or altered currency notes after December 31, 2017.

After that date all willfully defaced and altered currency notes will be held by the Central Bank and they would not be exchanged by any commercial banks.

This decision was taken because the government had to incur a heavy cost outlay in printing new currency notes.

According to the Monetary Act No. 58 of 1949, legal action cold be taken against persons responsible for willfully defacing or altering currency notes and punishment meted out to them.