No ID Proof, Requisition Slip Required To Exchange ₹2,000 Notes, Says SBI

The State Bank of India on Sunday said that the customers can exchange their ₹2,000 denomination bank notes up to ₹20,000 at the branches without obtaining any requisition slip. Also, no identity proof shall be required to be submitted by the tenderer at the time of exchange of notes.

The bank’s statement clarification comes amid rumours and misinformation being circulated on social media asking tenderers to submit a form along with identity documents such as Aadhaar card.

The Reserve Bank of India on Friday had withdrawn ₹2,000 notes from circulation and has asked people to deposit these notes into their accounts or exchange them at the nearest bank branches till September 30 this year. The central bank has asked the people to approach the banks for their deposit and/or exchange from May 23 so as to give the banks enough time to prepare for the process.

The ₹2,000 notes will continue to be in use for transactions and other payments. However, it is advised to exchange the withdrawn notes by the end of September, the RBI said.

A woman holds ₹2000 notes as she exchanges demonetised notes at a bank in Chennai.(AFP File Photo)
The ₹2,000 denomination bank note was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of legal tender status of all ₹500 and ₹1,000 bank notes that were in circulation at that time.