No form or identity proof required for exchanges of Rs 2,000 notes
New Delhi (PTI): No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation.
RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks.
Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender.
In a communication to chief general manager of all its local head offices, State Bank of India (SBI) informed that the facility of exchange of Rs 2,000 notes by public up to a limit of Rs 20,000 at a time will be allowed without obtaining any requisition slip.
With regard to deposit of such notes in own account, RBI has not specified any limit but it will be subject to compliance with extant Know Your Customer (KYC) norms and other applicable statutory requirements.
"Further, no identity proof is required to be submitted by the tenderer at the time of exchange," the communication dated May 20 said.
It has asked its local head offices to arrange and extend all cooperation to the public so that the exercise is conducted in a smooth and seamless manner without any inconvenience.
According to sources, one can stand any number of times in queue for exchange of Rs 2,000 notes.
Although the facility for exchange is available from May 23, many customers were seen visiting their branches with the Rs 2,000 notes on Saturday.
Bank officials returned such customers after advising them about the start date for exchange.
Some of the customers used cash deposit machines on Saturday to deposit Rs 2,000 notes in their accounts.
Many have tried jewellery shops to buy gold and other precious metals. However, jewellers are also hesitant in accepting Rs 2,000 notes and asking for KYC beyond prescribed cash purchase in many parts of the country.
According to the Confederation of All India Traders (CAIT), withdrawal of Rs 2,000 notes by the Reserve Bank of India will not affect the trade of the small traders but will certainly hit the big and affluent class which might have stocked Rs 2,000 notes in large quantities.
CAIT does not anticipate any disturbance in trade activity due to this move.
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Man jumps to death from 22nd floor of posh Noida society; depression suspected
Noida (PTI): A 37-year-old man allegedly died by suicide after jumping from the 22nd floor of a posh residential society in Sector 107 here, police said on Monday.
The incident took place on Sunday in Prateek Edifice Society under the jurisdiction of the Sector-39 police station. The deceased has been identified as Sajjal Mehrotra, a company director who lived in the society with his family.
"On Sunday afternoon, he jumped from the balcony of his flat on the 22nd floor," a police official said.
Family members and security guards rushed him to a nearby hospital, where doctors declared him dead, police said, adding that no suicide note has been found.
Prima facie, the deceased was suffering from depression, officials said, adding that other aspects of the case are being investigated.
The body has been sent for post-mortem and further legal formalities are underway.
Police said the man got married about 10 years ago and is survived by his wife and two children. No complaint has been received from the family in connection with the incident.
(Assistance for overcoming suicidal thoughts is available on the state’s health helpline 104, Tele-MANAS 14416.)
