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2000 Note exchange Rule: Aadhar or ID cards are not required for exchanging Rs 2,000 notes

If you are going to exchange Rs 2,000 notes, then you don’t need to show any government issued identity card like Aadhaar at the bank branch, a Punjab National Bank official told newswire agency ANI.

The clarification came after old forms circulated online seeking additional personal information for exchanging Rs 2,000 currency notes.

Earlier, in a communication to the chief general manager of all its local head offices, the State Bank of India (SBI) informed that the facility of exchange of Rs 2,000 currency notes by the public up to a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip.

The Reserve Bank of India (RBI) had announced on May 19 the withdrawal of Rs 2,000 currency notes but gave the public until September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks.

The RBI has said that the note will continue to be legal tender and can be used for all kinds of commercial transactions until the deadline. However, the central bank has not yet clarified what will happen to Rs 2,000 notes after September.

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“Members of the public may deposit Rs 2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch,” the RBI had earlier said, but added that there is a limit of Rs 20,000 that one can deposit at a time. The RBI had clarified that you can deposit or exchange money from the same bank branch or via other banks multiple times. So one can stand any number of times in line for the exchange of Rs 2,000 notes. RBI Governor Shaktikanta Das had yesterday said the deadline of September 30 for the exchange of Rs 2000 notes was decided so that people take the process seriously and it does not become endless.”…Time is given up to Sept 30 (for exchange of notes) so that it is taken seriously, otherwise, if you leave it open-ended, it becomes a kind of an endless process,” Shaktikanta Das said in an interaction with the media.

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