Any number of times one can stand in the queue to exchange 2000 rupee note

Any number of times one can stand in the queue to exchange 2000 rupee note

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New Delhi: The Reserve Bank of India (RBI) on Friday announced the withdrawal of Rs 2,000 notes from circulation. Due to this panic spread among the people and they reached the bank the next day i.e. early morning on Saturday to exchange the notes. The note exchange facility has been available since May 23, but many customers thronged their branches on Saturday to exchange Rs 2,000 notes. He was sent back after explaining. The public has been given time till September 30 to deposit or exchange these notes in bank accounts. That is, the Rs 2,000 note will remain legal tender till September 30, while the Rs 500 and Rs 1,000 notes were invalidated overnight in November 2016 demonetisation. This is the reason that after the announcement of RBI, there was panic among the people and they reached the bank the very next day to exchange the notes.

Meanwhile, the country’s largest bank SBI has written to the general managers of all its local head offices, saying that the general public will not need any form to exchange Rs 2,000 notes up to a total of Rs 20,000 in one go. The Reserve Bank has not fixed any limit for depositing such notes in its account. This is subject to meeting Know Your Customer (KYC) norms and other applicable statutory requirements. “No identity proof is required to be submitted at the time of exchange,” the bank said in a May 20 circular. SBI has asked its local head offices to arrange all assistance for the public.

SBI’s big update on the exchange of Rs 2,000 note, know what the country’s largest bank said

How many times can you stand in line

However, there are still many questions in the minds of people regarding the replacement of Rs 2,000 note. For example, how many times can you stand in line for this. According to sources, one can stand in the queue any number of times to exchange Rs 2,000 notes. There is no limit to it. According to the information of RBI, you can change your notes from the bank from 23 May to 30 September. That means you have four months time.
(with input from language)

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