Hassle-free exchange of Rs 2000 notes for SBI customers; no forms, ID cards needed
New Delhi, May 21: SBI customers will not need to submit any ID cards or fill out any requisition forms to exchange their Rs 2000 banknotes, the bank announced on Sunday. However, the exchange of a maximum of ten currency notes of Rs 2000 at a time has been allowed, according to a communication shared by the SBI with all its circles.
SBI emphasised in its communication with all circles that a requisition slip having dedicated columns for details of customer's identity proof now stands withdrawn with immediate effect.
"Please arrange accordingly and extend all cooperation to members of the public so that the exercise is conducted in a smooth and seamless manner without any inconvenience to the public," SBI said.
The Reserve Bank of India (RBI) decided on Friday to withdraw the Rs 2000 denomination currency notes from circulation, but they would continue to be legal tender.
The Reserve Bank of India had advised banks to stop issuing Rs 2000 banknotes with immediate effect.
The Reserve Bank of India, on the other hand, stated that citizens will be allowed to deposit Rs 2000 banknotes into their bank accounts and/or exchange them for banknotes of other denominations at any bank branch till September 30, 2023.
"It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public," RBI said.
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- ANI
