Punjab National Bank says no Aadhaar, verified documents required for exchange of Rs 2000 notes

The deposit and exchange of Rs 2000 notes in banks and some RBI branches starts from today. If you are having Rs 2000 notes, you can go to a bank and deposit them in your account from today. You can also exchange Rs 2000 notes up to a limit of Rs 20,000 at a time, according to RBI.The last date for the return of Rs 2000 notes to banks is September 30. However, there is no need to panic as these banknotes will continue to remain legal tender. Moreover, the RBI has given a 4 months time for the return of Rs 2000 notes to banks. The Punjab National Bank (PNB) on Tuesday said there is no need to show any identity proof such as Aadhaar card or present any official verified documents (OVD) as well as need to fill any form at any of its branches to exchange ₹2,000 currency notes, bank officials told news agency ANI.

Earlier, the State Bank of India (SBI) dismissed speculations on requirement of filling any form or slip to swap ₹2,000 banknotes, saying exchanging notes ‘without obtaining any requisition slip’.Under the ‘clean note policy’, the Reserve Bank of India (RBI) announced rolling back of ₹2,000 currency notes from circulation, the swapping process of these high-value notes in all banks is set to begin from today. According to the central bank, the currency notes can be exchanged without a requisition slip or identity proof, however, few banks have mandated them for a person to swap them with smaller denominations. The Reserve Bank of India (RBI)’s move to withdraw Rs 2,000 note from circulation is expected to boost the macro economy even as the impact is likely to be short-lived. This is because unlike in 2016, Rs 2,000 note is not being demonetised, according to experts