According to RBI guidelines issued on Friday, a person can exchange up to a limit of Rs 20,000 at a time.
Customers will have to carry PAN card/number for depositing Rs 2,000 notes on deposits above Rs 50,000 in the account
The Reserve Bank of India last week announced the withdrawal of Rs 2,000 notes from circulation, but gave the public time till September 30 to either deposit such notes in their accounts or turn them into banks,
While the RBI has not mandated the presentation of a valid ID or filling up of deposit forms, there were complaints from some quarters that banks were asking customers to submit ID as proof.
Some banks exchanged notes through electronic entry, others asked customers to enter their names and mobile numbers in a register without providing any proof of identity.
According to RBI guidelines issued on Friday, a person can exchange up to a limit of Rs 20,000 at a time. There were reports that initially some branches insisted on filling the form but later discontinued it after receiving instructions from their headquarters.
Rs 2,000 note exchange in banks
state Bank of Indiacountry’s largest bank in one official memorandum It has informed its branches that no form or identity proof will be required for exchange or deposit of Rs 2,000 notes.
PNB said that No Aadhaar Card or Official Verified Document (OVD) is required for currency exchange. Moreover, customers do not have to fill any form for the same. The clarification came after old forms seeking additional personal information to exchange Rs 2,000 notes were circulated online.
prefer private banks Kotak And hsbc Said they are asking for form/id proof for non account holders.
Axis Bank, Standard Chartered, Yes Bank, Canara Bank and Bank of India Said that they are not mandating any form or ID proof.
Bank of Baroda have said that they do not require any form, but require ID proof for non-account holders.
ICICI And HDFC have said that they require all customers to fill the form, but ID proof is required only for non-account holders.
HDFC Bank in its communication to customers said, “We would like to update you on the Rs 2000 notes issued by the Reserve Bank of India (RBI). Please note the following:
- legal tender assuranceRs 2,000 note will remain legal tender. You can use it for all your transactions and receive it as payment.
- Hassle Free Deposit: You can easily deposit Rs 2000 notes into your HDFC Bank account at any branch till September 30, 2023.
- Easy Exchange: We offer hassle free exchange service at any HDFC Bank branch from May 23, 2023 to September 30, 2023, allowing you to exchange your Rs 2,000 notes with a per day limit. 20,000.”
Rs 2,000 notes deposited in banks
customers should be taken PAN Card/No. On depositing more than Rs 50,000 in the account On depositing Rs 2,000 notes
The Rs 2,000 note is about 10.8% of the total currency in circulation or Rs 3.6 lakh crore. The notes can be exchanged or deposited till September 30, 2023.
