Customers did come into several banks to exchange or deposit Rs 2,000 notes, but there was no rush.
Digital Desk: Banks were
open for business on the first day of accepting the Rs 2,000 currency notes
removed by the Reserve Bank of India (RBI) late last week.
Moneycontrol
reporters visited numerous bank branches in Mumbai and Delhi and found that
there was no rush to deposit or exchange Rs 2,000 notes.
The
RBI announced the withdrawal of the high-value notes on May 19, stating that
consumers could visit bank branches from May 23 to September 30 to deposit or
exchange their Rs 2,000 notes.
"I
went to the branch to inquire about the exchange of Rs 2,000 notes."
"I wanted to know if there were any forms I needed to fill out or anything
else I needed to do before depositing Rs 2,000 notes," said an HDFC Bank
customer in Mumbai.
Customers
did come into several banks to exchange or deposit Rs 2,000 notes, but there
was no rush.
"We had some customers who
wanted to deposit Rs 2,000 notes with us." But barely 3-4 of them showed
up today," stated a bank branch manager who did not want to be identified.
"We have made a separate counter for exchanging these
notes," stated another manager at a public sector bank. We have also set
up a drinking water station and adequate seating. We anticipate more customers
in the coming days and have prepared the facilities accordingly."
Some banks require a form.
Some customers did have concerns about the exchange process. When
a customer tried to deposit his Rs 2,000 note at a public sector bank, a bank
staff requested him to fill out a form.
"I was told to fill out a form that
required Aadhar card details," the consumer explained.
Forms for deposits and exchange
Customers at HDFC Bank,
Canara Bank, Indian Bank, and Bank of Baroda were requested to fill out request
slips for the exchange of Rs 2,000 bank notes, according to slips acquired by
Moneycontrol.
The paper further stated that any identifying proof, such as an
Aadhar card, a driving licence, a voter ID card, a passport, an NREGA card, a
Pan card, or a letter issued by the National Population Register, must be shown
at the counter. According to the form, HDFC Bank required a self-attested copy
of any document with the request slip.
Customers were asked to
fill out deposit slips for the exchange of Rs 2000 banknotes at Union Bank of
India and ICICI Bank locations.
Furthermore, one of the officials at the Axis Bank branch in
Bhayandar West, Thane, stated that the bank only accepts deposits at cash
deposit machines or over the counter.
When queried about the note exchange, the branch executive stated,
"We have not received any communication from our management regarding the
note exchange; once we receive an update, we will begin."
Similarly, the IDBI Bank
branch in Bhayandar, Thane, was only exchanging two Rs 2,000 banknotes on May
23 due to a lack of cash for exchange, according to a senior official present
at the branch.
"This is only for today; we will have enough cash tomorrow
and there will be no problem," he stressed. "Many people have come to
our branch since the morning to exchange and deposit these notes." Only a
deposit slip is required in this branch for the deposit or exchange of a Rs 2,000
bill."
RBI and bank
announcements
State Bank of India (SBI),
the country's largest public sector bank, advised all its branches on May 22
that no form or identity evidence will be required to exchange Rs 2,000
currency notes, even as it restated the one-time limit of Rs 20,000 for
depositing or exchanging these notes.
On May 22, RBI Governor Shaktikanta Das stated that banks must
provide enough facilities for consumers wishing to deposit or exchange Rs 2,000
notes. "Provide shade and water to those exchanging Rs 2,000 notes,"
Das said.
Moneycontrol discovered that certain banks have created unique
facilities for consumers during a visit to numerous banks. For example, an
Indian Bank branch has a dedicated counter for customers looking to swap or
deposit Rs 2,000 notes.
On the condition of
anonymity, the branch manager of a private bank stated that it is still waiting
for instructions from the head office to prepare additional facilities for
customers coming to deposit or exchange Rs 2,000 notes.
"We have heard that the RBI has directed banks to provide
customer facilities." "We're waiting for instructions from our
headquarters," the manager explained.
Notes are being withdrawn.
The RBI said on May 19 that it is eliminating Rs 2,000 notes from
circulation as part of a clean note policy. However, banknotes in the value of
Rs 2,000 will remain legal tender, according to the RBI.
Members of the public are
instructed to deposit Rs 2,000 banknotes into their bank accounts or exchange
them for banknotes of other denominations at any bank branch.
"Deposits into bank accounts can be made in the usual manner,
that is, without restrictions and subject to extant instructions and other
applicable statutory provisions," the RBI stated in a statement.
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