Rs 2000 Notes Exchange: HDFC Says This To Its Customers

Even as the window for exchanging the Rs 2,000 notes is starting on May 30, banks are issuing advisories and notices to their customers informing the process. HDFC Bank has also issued communications to its customers informing the public to start depositing the Rs 2000 notes.

In an email to its customers, HDFC Bank said, “We want to update you on the Rs 2000 banknotes issued by the Reserve Bank of India (RBI). Please note the following:

Legal Tender Assurance: The Rs 2000 banknote will remain legal tender. You can use it for all your transactions and receive it as a form of payment.

Hassle-free Deposits: You can conveniently deposit any quantity of ₹2000 banknotes into your HDFC Bank account at any branch until September 30, 2023.

Easy Exchange: We offer a hassle-free exchange service at any HDFC Bank branch from May 23, 2023 onwards until September 30, 2023, allowing you to get your Rs 2000 banknotes exchanged with a per day limit of Rs. 20,000.”

This apart, SBI has said that there is no need for any ID or requisition slip for deposits up to Rs 20,000 at a time.

In its latest circular on May 22, the RBI also advised banks that the facility of exchange of Rs 2,000 banknotes across the counter shall be provided to the public in the usual manner, that is, as was being provided earlier.

“Banks are advised to provide appropriate infrastructure at the branches such as shaded waiting space, drinking water facilities, etc. considering the summer season,” the central bank said.

RBI has set a deadline of September 30 for the deposit or exchange of Rs 2,000 notes at banks.

RBI Governor Shaktikanta Das on Monday said the RBI is withdrawing Rs 2,000 notes from circulation but they continue as legal tender. He said there was no need to panic or worry. The governor also said the purpose for which Rs 2,000 notes were started has been fulfilled and there are enough other notes in circulation.

Speaking to reporters for the first time since the surprise decision to withdraw the highest denomination currency note was announced, Das said the Rs 2,000 notes continue as legal tender and the September 30 deadline has been fixed so that people take the process seriously.