The Reserve Bank of India (RBI) has issued the exchange or deposit slip format without the Identity Proof.
The RBI in its circulation issued on 19th May 2023 has withdrawn the Rs. 2000 banknotes. Also declared that it will continue as a legal tender. People can exchange or deposit their Rs. 2000 denomination notes in the bank branches from May 23rd 2023 to September 2023.
Subsequent to the notification of the RBI, the State Bank of India was also issued a notification that no slip or no identity proof is needed for the exchange. However, a Delhi based advocate Ashwini Kumar Upadhyay has filed a Public Interest Litigation (PIL) against the same.
The RBI has advised the banks to make arrangements and special counters to set up for the exchange or deposit of the withdrawn bank note. The apex bank issued the format on 22nd May 2023.
| Bank Name | Date | Amount of ₹2000 banknotes Exchanged | Amount of ₹2000 banknotes Deposited | Total Amount |
The format only includes the bank name, date, amount exchanged, amount deposited and the total amount. There is no column to mention the name of the exchanger or the ID proof. This will definitely help the people having black money.
The RBI governor Shaktikanta Das in his press meet on 22nd May 2023 has stated that the currency withdrawal is a part of Currency Management Operations of the RBI and also advised the public not to panic. Also, he didn’t speak about what will happen after September 30 as it’s speculative.
The exchange or deposit of Rs. 2000 denomination notes without ID proof will help the hoarders to convert their black money to white very easily. If the RBI is expecting to eradicate the black money, then this step will become a failure.
As per the Central Government, every family has an Aadhar card and also a bank account. So it would be better that the Reserve Bank could take a better stand by issuing a new notification that Identity Card proof is a must while exchanging or depositing the Rs. 2000 bank notes.
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