While the Reserve Bank of India (RBI)’s recent announcement to withdraw the Rs 2000 currency note triggered a flutter among the public, the State Bank of India (SBI) has made special arrangements for the exchange of the high-denomination currency notes.
As per SBI’s latest notification, special arrangements have been made for exchanging the big denomination currency notes with small denomination notes at around 890 branches across Odisha.
SBI’s Bhubaneswar Zone Chief General Manager (CGM) Chandrasekhar Sharma informed that Rs 12000 crore is currently available for exchanging the higher denomination notes. Further, he also informed that if the bank requires more currency for exchange, RBI will make the arrangements within an hour.
“Apart from Bhubaneswar, we have made special arrangements in multiple locations. Currently, we have Rs 12000 crore notes in smaller denominations of Rs 100, Rs 200, and Rs 500.”
Informing about the rules for exchanging notes, Sharma said that one person can exchange 10 notes (Rs 20000) at one time. If the bank is not crowded, then people can exchange more Rs 2000 notes multiple times.
“I would request our customers and all others that there is no need to panic. Adequate currency notes are available. Anyone can come at their own convenience. People can either exchange the notes at branches or can deposit in their accounts or deposit in machines. All banking systems are available and prepared to exchange notes,” said Sharma.
“I am assuring the entire population of Odisha that they will face no inconvenience,” Sharma added.
Furthermore, Sharma said, “No documentation or identity proof is required for exchanging the currency notes. Anyone can go to any branch to exchange notes. However, people should prefer bigger branches as small branches have a limit.”