The exchange and deposit of Rs 2000 currency notes began in all banks across India on Tuesday days after RBI decided to withdraw them from circulation.
The apex bank has granted individuals time till September 30 to either deposit their Rs 2,000 notes into bank accounts or exchange them for other valid denominations.
The Punjab National Bank (PNB) on Tuesday issued a clarification on the withdrawal exercise.
"No Aaadhar Card, No official verified documents (OVD) required, no need to fill any form is the current instruction to all the branches of Punjab National Bank (PNB)," the bank officials told news agency ANI after old forms circulated online seeking additional personal information for exchanging.
The RBI has already stated that a person can exchange up to a limit of Rs 20,000 at a time without filling out any form or requisition slip.
No Aaadhar Card, No official verified documents (OVD) required, no need to fill any form is the current instruction to all the branches of Punjab National Bank (PNB): Clarify PNB officials to ANI after old forms circulated online seeking additional personal information for… pic.twitter.com/LX3fRdx8DF
May 23, 2023AdvertisementIn a circular dated May 20, SBI also announced that customers can exchange Rs 2,000 denomination bank notes up to a limit of Rs 20,000 at a time without needing a requisition slip. Additionally, no identity proof is necessary during the exchange transaction.
SBI clarifies that the facility of exchange of Rs 2000 denomination bank notes upto a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip pic.twitter.com/TP6t2n9oeJ
May 21, 2023AdvertisementIt is important to note that although the Rs 2,000 notes are being withdrawn, they will remain legal tender until September 30, 2023. This withdrawal does not resemble the demonetization exercise, as the main objective is to gradually phase out the Rs 2,000 denomination.
It is worth mentioning that the printing of fresh Rs 2,000 notes ceased in the financial year 2018-19, with approximately 89% of the notes issued prior to March 2017.
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