No Requisition Slip, ID Proof Needed For Exchange Of Rs 2,000 Banknotes: SBI

The State Bank of India on Sunday announced that it would be allowing customers to exchange the Rs 2,000 note without a requisition slip for amounts up to Rs 20,000.

The SBI move will allow people to swap out 10 notes at one go, without filling in the requisition slip.

"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.20000/- at a time will be allowed without obtaining any requisition slip as per the format attached in Annexure- III," a circular from the state lender said.

Further no identity proof is required to be submitted by the tender at the time of exchange, it added.

The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30.

The bank notes in Rs 2,000 denomination will continue to be a legal tender, the RBI said in a statement.

In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the RBI said exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23, 2023.

The central bank further advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect.