No PAN, forms needed to exchange Rs 2,000 notes: SBI

• Follow

The country’s largest government bank SBI (SBI) has issued an update regarding the change of Rs 2,000 note. The bank has issued a circular to all its branches saying that no form will have to be filled to exchange 10 notes of Rs 2,000. Apart from this, people do not even need to show any identity card to exchange notes.

Earlier, all kinds of speculations were floating regarding the exchange of the Rs 2,000 notes. Various forms were also being circulated on social media about the forms that would need to be filled for the exchange. Along with this, it was also being said to submit a copy of Aadhaar and PAN card for Know Your Customer (KYC) verification. People had all kinds of concerns about these news. In order to put an end to all such rumours, SBI has issued a circular to all its branch managers that these instructions should be followed to make the process of note exchange simple and quick. After the initiative of SBI, it is believed that other banks will also follow this process. The Reserve Bank of India (RBI) had announced withdrawal of Rs 2,000 notes from circulation on Friday . The central bank has given time till September 30 to return these notes. At a time, a person can exchange only an amount of Rs 20,000. Jeweller Association’s appeal Meanwhile, Yogesh Singhal, President of The Bullion Jewellers Association (TBJA), has said that a customer can buy jewellery or any item from any jeweller at the market price with a Rs 2,000 note as this note is legal tender. Customers in Delhi and National Capital Region (NCR) are not facing any inconvenience in transactions of Rs 2,000. He has appealed to the public not to fall into any kind of trap.