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UltraTech Cem. 7715.65↑34.35(0.45%)
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Wipro 395.75↑9.55(2.47%)

No form, ID needed to exchange Rs 2,000 currency note: State Bank of India

Banks ask ATM operators to withdraw such notes from cash-dispensing machines

Manojit Saha Mumbai

A man counting Rs 2,000 notes. Photo: Shutterstock

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The ATMs which would still have the Rs 2,000 note are primarily in the metro cities where withdrawals are very high.

4 min read Last Updated : May 21 2023 | 7:47 PM IST

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State Bank of India has informed all its branches that no form or identity proof would be needed to exchange Rs 2,000 currency notes, even as it reiterated the one-time limit of Rs 20,000 for depositing or exchanging the banknote.

The clarification came as social media was flooded with pictures of a ‘form’, which would have to be filled to deposit or exchange the Rs 2,000 note.

The Reserve Bank of India (RBI) on May 19 said it was withdrawing the Rs 2,000 notes from circulation and gave citizens time until September 30 to exchange or deposit the currency notes.