No need to fill requisition slips for exchange of Rs 2000 notes for up to Rs 20,000, says SBI

22 May 2023 , 03:18 AM

India’s largest public sector lender, State Bank of India announced on Sunday that it will allow customers to exchange the soon-to-be withdrawn Rs 2000 note without filling a requisition slip for amounts up to Rs 20,000.

“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 SBI said. ‘Further no identity proof is required to be submitted by the tenderer at the time of exchange,’ the circular adds.

This move will help the customers to swap out 10 notes in one go without Annexure III slip. 

RBI on Friday announced of withdrawing Rs 2000 currency notes from the circulation. The general public can deposit or exchange the currency till September 30. The denomination will continue to be a legal tender, the RBI said in a statement.

It also advised banks to stop issuing Rs 2000 currency notes with immediate effect.