The four-month window to exchange ₹2,000 currency notes opened on Tuesday with small queues and confusion at some banks over the requirement of identity cards such as PAN or Aadhaar, and requisition slips.
The Reserve Bank of India (RBI) on May 19 announced withdrawal of ₹2,000 banknotes from circulation in pursuance of its ‘Clean Note Policy’. The central bank advised the public to deposit such notes into their bank accounts or exchange them for notes of other denominations at any bank branch, up to a limit of ₹20,000 at a time, by September 30.
While the RBI has not made the presentation of a valid ID or filling of deposit forms mandatory, there were complaints from some places that banks were demanding customers to submit identity cards as proof.
