SBI Clears the Air on Documentation for Rs 2000 note exchange

NEW DELHI: The SBI in a fresh notice has issued guidelines to all its branches saying depositing and exchanging Rs 2000 note will be allowed “without obtaining any requisition slip”. Rs 2,000 notes up to a total value of Rs 20,000 can be deposited or exchanged at a time, the guideline reiterated.

This statement by the central bank comes amidst speculations on social media that a form would be required to be submitted along with identity documents to exchange notes.

The Reserve Bank of India on Friday said it will withdraw Rs 2,000 notes from circulation and people can exchange or deposit them in their bank accounts by September 30. It cited the “Clean Note Policy” as an explanation of its move.

The RBI clarified that people don’t have to pay any fee to avail of the exchange facility. Further, banks have been instructed to make arrangements to reduce inconvenience for senior citizens and persons with disabilities who wish to exchange or deposit Rs 2,000 banknotes.

People can exchange their notes at RBIs 19 regional offices and other private banks from May 23.

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