It has been reported that the public can exchange the Rs 2000 notes which were recently banned by the Reserve Bank of India in banks from today. Last week, the Reserve Bank of India announced the withdrawal of Rs 2000 notes from circulation. The central bank has clarified that these notes will continue to be legal tender.
“It targeted evils such as black money, terror funding, and counterfeiting.”
Apex Court about demonitisation
Meanwhile, these currency notes should be exchanged through banks by September 30. Accordingly, there are no restrictions on the amount that customers can deposit as per the existing KYC norms, RBI said. Similarly, all banks will accept up to Rs 20,000 at the same time to exchange Rs 2,000 notes, the circular said.
Further, it has announced that this limit has been fixed to reduce the inconvenience to the public in the banks, ensure smooth operations and avoid disruption to the regular operations of the bank branches.
Instructions for exchanging 2000 rupees notes in bank:
Step 1: First the general public go to the nearest bank branches.
To deposit or exchange your Rs.2000 notes, visit the nearest branch of any bank starting today, March 23. If you have an account with that bank or branch, provide your account details for easy process.
Step 2: Fill the ‘Request Slip’
After confirming the process, the bank will issue you a request slip to exchange your Rs.2000 notes. Fill the slip with the following information:
- Fill your name in capital letters in the space ‘Tenderer’
- You have to provide your unique identification number from the accepted identity certificate while exchanging the currency note.
- You need to fill in the details including the value of Rs.2000 notes you are submitting, the number of notes and the total value.
- Sign the form and mention the place and date of transfer.
Step 3: Submit the form
Once you have filled the claim slip, you need to present it along with your Rs.2000 notes at the nearest bank branch to complete the transfer.
Transaction/Deposit Limits:
Rs.2000 notes can be exchanged up to Rs.20,000 at a time. For deposits, subject to KYC norms and other requirements, there are no restrictions on the amount of Rs.2000 notes you can deposit.
Transfer/Deposit Dates:
From May 23, individuals can approach banks to deposit or exchange their Rs 2000 notes. The last date for this process is September 30.
Transaction/Deposit Fees:
The facility to exchange 2000 rupee notes is free
For those who don’t have an account
Even if you don’t have a bank account, you can exchange Rs 20,000 notes at a time at any bank branch.
