Just a couple of days after the Reserve Bank of India (RBI) removed Rs 2,000 note from circulation, several lending entities have clarified the note exchange rules. As people continue raising queries like ‘Rs 2000 note deposit limit’, lenders like the State Bank of India (SBI) and Punjab National Bank (PNB) have clarified the process for the public.
Among major banks, both SBI and PNB have reportedly explained the Rs 2000 note exchange rules. As per media reports, the banks have said that people need not show any identity proof like Aadhaar Card or PAN Card to exchange these notes.
Also Read | Rs 2000 Note: What Is Clean Note Policy Of RBI Behind The Withdrawal?
Customers must also note that the facility to exchange Rs 2,000 notes at a bank has been made available from today onwards and would continue till September 30, 2023. Let’s take a look at specifics explained by SBI and PNB, and how customers can exchange their Rs 2000 note swimmingly.
Rs 2000 Note Deposit Limit
RBI guidelines suggest that banks can exchange Rs 2000 notes up to a limit of Rs 20,000 at any given time. The limit has reportedly been applied to ensure operational convenience and to avoid any disruptions to normal working of banks.
As per Business Today, Department of Economic Affairs (DEA) Secretary Ajay Seth said that a person can exchange or deposit these notes several times in a day.
In simple words, you can only exchanges Rs 20,000 at one go, though you can make an exchange or deposit several times a day.
SBI, PNB On Rs 2000 Note Exchange Rules
SBI and PNB have reportedly stated that apart from no need of an ID proof, customers also don’t need to fill any form at any of their branches to exchange Rs 2000 note. However, all banks need to follow the RBI guidelines for the deposit and exchange process.
In an official statement on Rs 2000 note exchange rules, the SBI said, “It has been decided that the facility of exchange of Rs.2000/- denomination Bank Notes to all members of the public up to 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.”
As per ANI, PNB officials said, "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)."
