The Currency Department of the Central Bank of Sri Lanka said today that no bank would  accept wilfully mutilated, altered or defaced currency from December 31 onward.

It noted that printing, stamping and drawing on any currency note was a punishable offence as were cutting or damaging currency notes.

Holders of mutilated currency notes would have to suffer the loss of the value of such notes, the CBSL warned earlier this year. 

It said that under the Monetary Law Act the devaluing of currency in this manner was a punishable offence.