ID proof needed to exchange Rs 2000 bank notes? SBI answers

New Delhi: The country's largest public sector lender State Bank of India (SBI) has said that no requisition slip or identity cards will be required for exchanging Rs 2000 denomination bank notes up to a value of Rs 20,000.

The SBI has written to all its circles informing them that the earlier instructions with regards to exchanging Rs 2000 bank notes now stand partially modified.

"In partial modification of instructions contained in para 4(B), it has been decided that the facility of exchange of Rs 2000 denomination Bank Notes to all members of the public upto a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip as per the format attached in Annexure III," SBI Chief General Manager (Operations) S Muralidharan wrote to local head office of all circles.

The circular further said that no identity proof is required to be submitted by the tenderer at the time of exchange.

"Please arrange accordingly and extend all cooperation to members of public so that the exercise is conducted in a smooth and seamless manner without any inconvenience to the public," the internal circular said.

The Reserve Bank of India (RBI) last Friday announced it would withdraw the Rs 2000 denomination banknotes from circulation in line with its "Clean Note Policy" while maintaining that the pink note would continue to be legal tender.

The central bank asked the public to deposit Rs 2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch till September 30, 2023.

The RBI put a ceiling of Rs 20,000 for exchange by a person at a time. (UNI)