Withdrawal of ₹2,000 notes: RBI instructs banks to provide facilities including mobile vans and drinking water

Withdrawal of ₹2,000 notes: RBI instructs banks to provide facilities including mobile vans and drinking water

Banks should also deploy mobile vans among other facilities in areas where there are no branches, so that people don't have to travel just to exchange Rs 2,000 notes.

FPJ Web DeskUpdated: Monday, May 22, 2023, 07:41 PM IST
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PTI

For weeks after demonetisation, Indians had to wait in queues outside banks to exchange or deposit their Rs 500 and Rs 1,000 notes and then outside ATMs to withdraw more cash. But as the Reserve Bank of India withdraws Rs 2,000 notes from circulation, it is determined to avoid the same chaos and inconvenience that people went through.

After providing four months to exchange the currency notes at banks and RBI offices, the banking regulator has released a circular instructing banks to take additional measures for the comfort of the people.

Ensuring customer convenience

It directs banks to figure out their cash requirements and then procure enough notes of other denominations in a timely manner.

Banks should also deploy mobile vans among other facilities in areas where there are no branches, so that people don't have to travel just to exchange Rs 2,000 notes.

Currency chests should have enough cash to help banks move forward with the exchange process, but if they need assistance, the respective RBI Issue Offices will step in.

Customers will only need to follow KYC and other statutory norms while depositing money, without any restrictions.

The daily limit for exchanging Rs 2,000 notes will be Rs 20,000 at a time for banks and Rs 4,000 at a time for business correspondents.

For Jan Dhan accounts, the usual limits for depositing cash will apply in case of Rs 2,000 notes as well.

In addition to all that, banks will need to set up shaded areas and drinking water in order to make sure customers don't face inconvenience during summer.

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