SBI’s u-turn: No slip, ID proof needed to swap ₹2,000 notes

In a sudden volte face following a huge public outcry, the State Bank of India — the country’s biggest bank — on Sunday withdrew its decision on the mandatory filling of a slip for exchange of ₹2,000 bank notes at its branches. “In partial modification of instructions, it has been decided that the facility of exchange of ₹2,000 denomination bank notes to all members of the public upto limit of ₹20,000 at a time will be allowed without obtaining any requisition slip as per the format attached in Annuxure III,” said a letter issued by SBI Chief General Manager (Operations) S. Muralidharan.