Section 11 in Reserve Bank of India (Note Refund) Rules, 2009
11. Retention and destruction of note.
- Notwithstanding the denomination of a note or the decision of the Prescribed Officer on the claim, a note presented before the Prescribed Officer for the purpose of making a claim shall be retained and destroyed or otherwise disposed of by the Bank in the following manner, namely-,(a)in the case of a note in respect of which full payment is made, at any time after the payment; and(b)in the case of a note in respect of which no payment is made, or on which half value payment has been made, on the expiry of a period of three months from the date of the decision rejecting the claim or to pay half-value, as the case may be, unless within this period, an order from a competent Court is submitted to any office of the Bank or branch of the designated bank restraining the Bank from destroying or otherwise disposing of the said note.
