State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof is required to exchange Rs 2,000 notes, which have been taken out of circulation by the RBI with immediate effect.
In a circular dated May 20, the bank said, “The facility of exchange of Rs 2,000 to all members of public up to a limit of Rs 20,000 at a time will be given without any demand slip.”
The Reserve Bank of India on Friday announced that it will withdraw Rs 2,000 notes from circulation, but said these notes will continue to be legal tender. However, there is no need to panic as the RBI has said that citizens can deposit Rs 2,000 notes in banks or exchange them with other currency denominations till September 30, 2023.
The RBI said that from May 23, 2023, the limit of exchange of Rs 2,000 notes for other denominations at any bank at a time can be increased to Rs 20,000.
The Reserve Bank said that all banks shall provide deposit and/or exchange facilities for Rs 2000 notes by September 30, 2023.
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read this also , 2000 rupee notes will be withdrawn from circulation. Funny reactions have flooded social media
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