Mumbai: Banks across India will start accepting Rs 2,000 notes for exchange from today. The Reserve Bank of India (RBI) had announced to withdraw the Rs 2,000 note from circulation on May 19, giving the bank four days to prepare for the same.
The Rs 2,000 notes were issued in 2016 after the Central government announced the demonetisation of old Rs 500 and Rs 1,000 currency notes. While the government introduced the Rs 500 note in a new design, the Rs 1,000 note was not reintroduced.
While there were speculations that the Rs 2,000 note will also be demonetised, the RBI has announced only the withdrawal of the currency notes from market circulation.
The high-value notes can be exchanged without a requisition slip or identity proof, the central bank said. However, officials of some banks said they will allow deposits or exchange of Rs 2,000 notes only if a person shows identity proof.
In many states, banks have sought the help of local police to regulate queues in case of heavy rush, officials said. Banks have cautioned people against trying to deposit or exchange fake ₹2,000 notes, saying a police case would be registered against such people.
