Punjab National Bank Clarifies There’s No Need To Show ID Card, Fill Form

Punjab National Bank Clarifies There's No Need To Show ID Card, Fill Form

State-run lender Punjab National Bank (PNB) on Tuesday said there is no need to show any identity proof such as Aadhaar card or present any official verified documents (OVD) as well as need to fill any form at any of its branches to exchange Rs 2000 currency notes, according to news agency ANI.

The latest notification comes from PNB after old bank forms circulated online seeking additional information from depositors to exchange Rs 2,000 banknotes.

Earlier, State Bank of India (SBI) dismissed speculations on requirement of filling any form or slip to swap Rs 2,000 banknotes, saying exchanging notes ‘without obtaining any requisition slip’.

Under the ‘clean note policy’, the Reserve Bank of India (RBI) announced rolling back of Rs 2,000 currency notes from circulation. According to the central bank, the currency notes can be exchanged without a requisition slip or identity proof, however, few banks have mandated them for a person to swap them with smaller denominations.

The exchange of the Rs 2000 currency notes into banknotes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting on Tuesday (May 23).

On Monday, the central bank issued a statement saying that the facility of exchange of Rs 2000 banknotes across the counter shall be provided to the public in the usual manner, that is, as was being provided earlier.

The regulator asked banks to provide the note exchange facility across the counter to the public in the usual manner, that is, as was being provided earlier and also asked banks to maintain daily data on deposit and exchange of Rs 2,000 notes.

Following the Friday’s announcement of withdrawing Rs 2,000 notes, the notes continue to be legal tender unlike demonetisation exercise, there were concerns about customers facing inconvenience, especially given the summer being at peak. “Banks are advised to provide appropriate infrastructure at the branches such as shaded waiting space, drinking water facilities, etc. considering the summer season,” RBI said in a notification on Monday.

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