First day of ₹2,000 note exchange: small queues seen at some branches
The Hindu
Small queues were witnessed at some bank branches on May 23, 2023 for the exchange of ₹2,000 notes against smaller denominations as part of the withdrawal exercise.
Small queues were witnessed at some bank branches on Tuesday (May 23) for the exchange of ₹2,000 notes against smaller denominations as part of the withdrawal exercise.
As per the RBI guidelines issued on Friday (May 19), the exchange of ₹2,000 facility is available from Tuesday (May 23).
A person can exchange up to a limit of ₹20,000 at a time without filling any form or requisition slip.
Further, no identity proof is required to be submitted by the tenderer at the time of exchange.
No great rush was witnessed for exchange when branches opened. Outlets of private sector banks in metro cities in the early hours had business as usual.
According to a senior official of a public sector bank, not much rush is seen so far because there is a window of four months for exchange and currency in circulation to be exchanged is also relatively less compared to demonetisation.
It is to be noted that 86% of India's currency in circulation was made invalid on November 8, 2016.
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