Key Points
The largest nationalised bank of India noted that members of the public will not require to show identity proof or fill up a requisition slip to exchange 2000 notes for a limit of 20,000 at once in any SBI branch...
The Reserve Bank of India (RBI) had on Friday announced that 2000 notes will be withdrawn in pursuance of the Clean Note Policy"..
The SBI in their notice said, Exchange of Rs.2000/- denomination Bank Notes to all members of the public up to a limit of Rs.20000/- at a time will be allowed without obtaining any requisition slip" ..
The RBI has said that the 2000 banknote will continue to maintain its legal tender status. . "About 89 per cent of the 2,000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated lifespan of four-five years..
The total value of these banknotes in circulation declined from 6.73 lakh crore at its peak as on March 31, 2018 (37.3 per cent of notes in circulation) to 3.62 lakh crore constituting only 10.8 per cent of notes in circulation on March 31, 2023," the RBI said.. Exchange/ Deposit Limits..
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If a bank refuses to exchange or accept ₹2000 notes, what actions should customers take?
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