An ET Wealth (Online) correspondent visited branches of four private sector banks and one public sector bank in South Delhi in an individual capacity to enquire about the process of exchanging Rs 2000 notes and documents that may be required. The following information is based on what the the branch officials of the different banks said.
Also Read: What happens if you fail to deposit, exchange Rs 2000 note by Sept 30?
HDFC Bank – The HDFC Bank branch is asking customers to fill a special form (Annexure – 1), irrespective of whether they are bank customers or not. A non-bank customer wanting to exchange Rs 2000 notes is required to provide the following details:
- Mobile number
- Any one of these ID proofs – Aadhaar card, Driving License, Voter ID Card, Passport, NREGA Card, PAN card, Letter issued by the National Population Register containing details of name & address. Individuals must bring their original ID proof along with the self-attested copy
- Mentioning ID proof on the form.
An individual will be required to mention the details of the number of notes and the amount that is being exchanged.
In the case of a bank customer, the customer ID or bank account number must be mandatorily mentioned in the special form.
Kotak Mahindra Bank– Here also the bank branch is asking individuals to fill in a special form to exchange Rs 2000 banknotes. The form has to be filled out irrespective of whether you are a bank customer or not. The form asks for the following details:
- Contact number
- Non bank customers are required to show ID Proof (any one) – Aadhaar, Driving License, Passport, Election ID card, NREGA card, Population register. ID proof number is required to be mentioned on the form. Producing ID proof is not mandatory for bank’s existing customers.
- Bank’s existing customers are required to provide CRN and account number
Non bank customers must carry original ID proof to the bank branch for verification. A self-attested copy of ID proof will be taken by the bank.
Induslnd Bank – The bank branch is asking all customers (i.e bank account holders) to fill a special form for the exchange of Rs 2000 notes. A non-account holder is required to provide the following details:
- Mobile number
- Contact Address
- Proof of identity & details, any one – Aadhaar card, Driving License, Voter’s ID Card, Passport copy, NREGA Card and Population Register.
The original ID proof must be carried to the bank branch for verification along with the self-attested copy. An individual exchanging the notes must visit in person to the bank branch.
Bank customers are required to mention their account number on the form along with other details.
ICICI Bank – The bank branch did not ask for any special form to be filled out. However, they were asking non-bank customers to fill out a cash deposit slip and provide an officially valid document along with the person’s mobile number.
Punjab National Bank – The public sector bank is not asking for any ID proof either from their customers or from non-bank customers. An individual can easily visit the bank branch to exchange Rs 2000 note.
State Bank of India – This public sector bank is also not asking for any ID proof from any customer (bank customers or non bank customers).
The Reserve Bank of India (RBI) decided to withdraw Rs 2000 note from circulation while reiterating that the note continues to be a legal tender. The central bank is asking the public to exchange or deposit their notes in banks by September 30, 2023. There is no limit on the amount of money that can be deposited into bank accounts. However, maximum of Rs 20,000 can be exchanged at a bank at one time, as per the RBI circular. No charges have to be paid for exchanging Rs 20,000 notes.