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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

No need to rush to exchange ₹ 2,000 notes: RBI

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Muscat: The Consulate General of the Sultanate of Oman in Mumbai has notified Omani citizens residing and coming to the Republic of India.


The Consulate said the Indian government issued a decision to stop dealing in the ₹ 2,000 denomination of the Indian currency.


The State Bank of India (SBI), one of the largest banks in India, on Monday, said it will accept ₹ 2,000 notes up to a total value of ₹ 20,000 at a time "without obtaining any requisition slip.


The clarification comes amid alleged reports on social media that a form would need to be filled out, along with submitting identity documents like an Aadhaar card, in order to exchange the banned notes


. People can exchange ₹ 2,000 rupee notes up to ₹ 20,000 any number of times in a day.


RBI Governor Shaktikanta Das on Monday said there is no need to rush to the banks to exchange Rs 2,000 as the deadline of September 30 is to ensure that the exercise is taken seriously.


He added that the decision to withdraw Rs 2,000 from circulation is part of the currency management operations of the Reserve Bank and is in tune with the clean note policy.



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