You don’t need to submit photocopy of your ID to exchange old currency notes
Advertisement
Advertisement
Post demonetisation, people are lining up in front of banks with their identity cards so as to exchange old currency notes with new bank notes. Following huge rush, Reserve Bank of India (RBI) along with the head offices of most commercial banks have asked banks not to collect photocopies of customers' IDs.
According to guidelines by RBI, the customer is only required to present and show his/her valid id proof and there is no need for photocopies.
"The bank only needs details and numbers on the requisition slip which the teller will match with entries in a document," a senior official of the
Yet many of the bank branches are insisting on photocopies and this has added to the queues infront of the bank counters. Some branches have offered to copy the document in the branch when customers turn up with only the original copy of their identity.
Advertisement
The gazette notification withdrawing the old high denomination notes from circulation issued on November 8 had said that people can exchange notes at any bank by submitting a requisition slip and proof of identity.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund
- Retired director of MNC loses ₹25 crore to cyber fraudsters who posed as cops, CBI officers
- Hyundai plans to scale up production capacity, introduce more EVs in India
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Narcissistic top management leads to poor employee retention, shows research