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BusinessBanks follow different rules, people use various avenues to dump notes

Banks follow different rules, people use various avenues to dump notes

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Most private banks asked non-account holders to provide proofs. SBI had clarified in an official note to its branches that no form or slip would be required while exchanging or depositing Rs 2,000 notes.

Mumbai, May 24 : Confusion marked day one of exchange of Rs 2,000 notes, whose withdrawal was announced by the Reserve Bank of (RBI) on May 19. People seemed to want to get rid of the notes by any means, while different banks adopted different standards for exchange of notes. People also resorted to various avenues, such as e-commerce deals, fuel stations, super markets, and gold purchases to use the notes. Though there were no chaotic scenes at branches of banks across the country, customers complained that banks were asking for identity proofs and requisition forms. While public sector banks, led by State Bank of India (SBI) exchanged notes without any proofs or forms, private banks including HDFC Bank, ICICI Bank are asking customers to fill the forms from everyone and sought identity proofs from non-account holders.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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