Reserve Bank of India: Guidelines issued by HDFC bank for exchanging 2000 notes
The Reserve Bank of India had announced last month that the 2000 note would be out of circulation, and those who possess it should either deposit it in the bank by 30 September or exchange it. The process of exchanging notes has started from May 23 and will continue till September 30. On the same announcement of the bank, HDFC bank has issued some guidelines informing its customers.
Here are the guidelines issued by HDFC bank for exchanging 2000 notes:
1. Customers can exchange their 2000 notes at any HDFC bank branch. They need to carry a valid identity proof, such as Aadhaar card, driving license, or passport, along with the notes.
2. The exchange of notes will only be done for individuals, and not for companies or firms.
3. The exchange of notes will only be done for denominations of 2000, and not for any other currency notes.
4. Customers can exchange up to 10 notes per day, subject to a maximum value of Rs. 20,000 per day.
5. If the exchange value exceeds Rs. 20,000, then the customer needs to provide a PAN card copy.
6. The exchange of notes will be done free of cost, and no charges will be levied.
7. The exchange of notes will be done on a first-come, first-served basis, and the bank reserves the right to turn down any request if it deems fit.
8. The exchange of notes will be subject to the availability of cash at the HDFC bank branch.
In conclusion, HDFC bank has issued guidelines for exchanging 2000 notes after the Reserve Bank of India announced that the notes would be out of circulation. Customers need to carry a valid identity proof and can exchange up to 10 notes per day, subject to a maximum value of Rs. 20,000 per day. The exchange of notes will be done free of cost, and the bank reserves the right to turn down any request if it deems fit.
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