Punjab National Bank clarifies Aadhar, ID cards not required to exchange Rs 2000 notes

New Delhi [India], May 23 (ANI): Punjab National Bank on Tuesday said there is no need for an Aadhaar card and no official verified documents while exchanging Rs 2000 currency notes. The lender has instructed its branches and also clarified that there is no need to fill out any form.

The bank informed ANI, “No Aadhaar card, no official verified documents (OVD) required, no need to fill any form is the current instruction to all the branches of PNB,” after old forms were circulated online seeking additional personal information for exchanging Rs 2000 currency note.

The Reserve Bank of India on May 19 withdrew the Rs 2000 denomination banknotes from circulation but they will continue to remain as legal tender.

It advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect.

Meanwhile, RBI said that citizens will continue to be able to deposit Rs 2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch up to September 30, 2023.

The Rs 2000 denomination banknote was introduced in November 2016, primarily to meet the currency requirement of the economy in an expeditious manner after the withdrawal of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time.

The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped subsequently in 2018-19, stated RBI.