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No form, identity proof needed to exchange ₹2,000 notes: SBI
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Print No form, identity proof needed to exchange ₹2,000 notes: SBI
No form or requisition slip is required for exchange of ₹2,000 notes up to a limit of ₹20,000 at a time as part of exercise to withdraw high-value currency notes from circulation.
The RBI on May 19 announced withdrawal of ₹2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old ₹500 and ₹1,000 notes were invalidated overnight, the ₹2,000 notes will continue to be a legal tender.
In a communication to chief general manager of all its local head offices, the State Bank of India informed that the facility of exchange of ₹2,000 notes by public up to a limit of ₹20,000 at a time will be allowed without obtaining any requisition slip.
With regard to deposit of such notes in own account, RBI has not specified any limit but it will be subject to compliance with extant Know Your Customer (KYC) norms and other applicable statutory requirements.
It has asked its local head offices to arrange and extend all cooperation to the public so that the exercise is conducted in a smooth and seamless manner without any inconvenience.
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