The Reserve Bank of India has issued updated rules for the redemption of mutilated or soiled banknotes of 200 (INR200.1) and 2,000 rupees (INR2,000.1) which, being new denominations introduced in 2017, were not mentioned before in the regulations, and thus not redeemable.
In short, to obtain full reimbursement any current banknote has to have at least 80% of the surface remaining. Notes that have 40 to 80% can be redeemed for half value. The rules take six pages of small type.
Source: rbi.org.in
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