The Reserve Bank of India (RBI) recently announced in a surprise move that all the Rs 2000 notes across the country will be removed from circulation, setting a date till which people can go to their banks and deposit or exchange Rs 2000 notes.
All banks in India have been asked to offer a deposit or exchange facility of Rs 2000 notes till September 30, 2023. After the deadline, it must be noted that the notes will not be considered illegal but will still be considered legal tender in India.
There is one very major question in the minds of all Indians – is there a limit to how many Rs 2000 notes can be exchanged or deposited in a day? Answering all the questions in your mind, the State Bank of India has issued a list of important guidelines.
The SBI said in its notice that at one time, 10 notes of Rs 2000 (Rs 20,000 total amount) can be deposited or exchanged from the bank. Further, the SBI has also stated that there will be no ID proof required and no forms to be filled during the time of the exchange.
In its official notice, the government bank said, “The facility of Rs exchange of Rs 2000 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. Further, no identity proof is required to be submitted by the tenderer at the time of the exchange.”
Those who don’t have a bank account can also go to any bank of their choice and exchange Rs 2000 notes up to the limit of Rs 20,000 at a time. While the exchange limit has been set at 10 notes at a time, there is no limit to the deposit of Rs 2000 notes in one’s bank account.
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