No forms or ID proof required to exchange Rs 2,000 notes, says SBI

The State Bank of India on Sunday said that customers can now exchange their Rs 2,000 denomination bank notes without obtaining any requisition slip, adding that the customer will not be required to submit any identity proof or any form at the time of exchange of up to Rs 20,000 at a time. SBI has asked all its branches to extend all “cooperation to conduct the exchange exercise in a smooth and seamless manner without inconveniencing the public.” The Reserve Bank of India announced its decision to withdraw Rs 2,000 notes from circulation on Friday and has asked citizens to exchange them at banks by September 30. All banks have been asked to provide deposit or exchange facilities for Rs 2,000 banknotes till September 30. In a statement, the Reserve Bank of India (RBI) said it has asked banks to stop issuing Rs 2,000 notes with immediate effect. While the RBI did not specify a limit for depositing the Rs 2,000 currency notes in bank accounts, exchange of a maximum of Rs 20,000 (10 notes of Rs 2,000) for other currency notes will be allowed at a time.