2000 Note Exchange: ‘Withdrawal of Rs 2000 note is not demonetisation’, RBI tells Delhi High Court, judgment reserved

2000 Note Exchange: ‘Withdrawal of Rs 2000 note is not demonetisation’, RBI tells Delhi High Court, judgment reserved

RBI On 2000 Note Exchange: The Reserve Bank has said that the removal of two thousand notes from circulation is not demonetisation but a statutory process. A Public Interest Litigation (PIL) was filed in the Delhi High Court to quash the notification that removed the 2000 notes. In response to this petition, the RBI gave this information to the Delhi High Court. The court has reserved its decision.

On Tuesday (May 23) in the Delhi High Court, a hearing was held in the division bench of Chief Justice Satish Chandra Sharma and Justice Subranyam Prasad. On behalf of RBI, senior advocate Parag Tripathi objected to the petition and sought to dismiss it. The petition was filed by BJP leader Ashwini Upadhyay.

Note exchange process to begin from Tuesday

The Reserve Bank of India (RBI) has decided to close the notes of two thousand rupees. Four months time has been given for this, during this period people will be able to change the two thousand rupee note kept with them. The process of exchanging Rs 2,000 notes in banks has started today (May 23). 

No document required for depositing notes

The market of rumors is also hot on social media regarding the change of notes. An old form of PNB is going viral on the online platform, in which it has been said to ask for additional information from the depositors who have changed the 2000 note. PNB has now clarified about this form and said that there is no need to provide any additional information to exchange Rs 2,000 note.

PNB told the news agency ANI that no Aadhaar card has to be given, no officially verified document has to be given and no form is required to be filled to change the two thousand note. Instructions have been given to all branches in this regard.

Earlier SBI had also said that there would be no need for any document or form to be filled to exchange notes in its branches.

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