Fact Check: No ID proof required to exchange Rs 2000 notes, viral claim misleading
The claims on need to submit id proof and fill a form for exchange of Rs 2,000 notes are false. There is no need to fill any form or produce any identity proof to exchange Rs 2,000 notes after their withdrawal from circulation.
- By: Abhishek Parashar
- Published: May 23, 2023 at 11:11 AM
- Updated: Jul 6, 2023 at 05:41 PM
New Delhi (Vishvas News): After the Reserve Bank of India’s (RBI) decision to withdraw Rs 2,000 notes from circulation, social media users are claiming that people will now have to fill out a special form and show their identity proof to exchange notes. Along with this claim, a copy of the alleged slip for exchange is also going viral.
Vishvas News found the viral claim to be misleading. The RBI on Sunday clarified that people will not have to produce any identity card or fill out forms to exchange Rs 2,000 notes. The State Bank of India (SBI), which had reportedly made the slip mandatory for exchange of Rs 2000 notes, has withdrawn the directive with immediate effect.
Claim:
Sharing the viral post (archive link), social media user ‘Md Zakariya Khan’ wrote, “So brothers and sisters, the form has arrived, to fill which you will have to stand in line outside banks.”
Several other users have also shared the same form with similar claims. Users are also sharing this claim on Twitter.
Investigation
The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2,000 notes from circulation on May 19. Along with this, the RBI had clearly stated that these notes will remain valid even after being withdrawn from circulation.
The RBI has decided to withdraw Rs 2000 notes from circulation under the ‘Clean Note Policy’. According to the notification, “People can deposit Rs 2,000 notes into their bank accounts or exchange them for other notes at any bank branch as per the normal procedure. The process of depositing the notes will be a normal process and there will be no restriction of any kind. This entire process will be as per the existing and other valid statutory provisions.”
According to the RBI notification, “With effect from May 23, 2023, notes of Rs 2,000 up to Rs 20,000 can be exchanged at a time for smooth running of normal activities of banks and for operational convenience.” This facility of exchange of notes will be available in banks as well as in 19 regional offices of RBI.
Vishvas News contacted RBI spokesperson regarding the claim made in the viral post. Asked about the need to fill up a special form (slip for exchange) and produce an identity card to exchange Rs 2,000 notes, he said, “There will be no need to produce any ID proof or identity card. It can be deposited in the normal way or exchanged for other notes.”
In a news search, we found several reports quoting SBI that no form or ID card will be required to exchange Rs 2,000 notes. News agency ANI also reported on this.
After the RBI’s decision to withdraw Rs 2000 notes, the State Bank of India, in Annexure III of the e-circular issued on May 19, 2023, said that identity proof would be required for exchanging Rs 2,000 notes. According to a report in ‘The Hindu’, the SBI withdrew this decision on May 21. The letter issued to bank branches said, “There will be no need to give any identity card for exchange…Hence the annexure contained in the e-circular dated 19th May 2023 stands withdrawn with immediate effect. There is no change in other instructions contained in the e-circular.”
On the RBI website, we found a notification dated May 22, addressed to the Chairman/Managing Directors and Chief Executive Officers of all banks, which states, “As per the circular dated May 19, 2023, Rs 2000 will be deposited across all counters as a general procedure. The facility of exchange of rupee bank notes will be made available to the public, as has been done in the past.
Along with this, Reserve Bank of India Governor Shaktikanta Das appealed to the people to restrain from rushing to the bank, as Rs 2,000 notes will remain valid.
Das said the purpose for which the Rs 2,000 notes were issued post demonetisation have been served and now other denomination notes are adequately present in the banking system. At the same time, the circulation of Rs 2,000 note has also decreased and it has come down from 6.73 lakh crore to 3.62 lakh crore. Along with this, the printing of this note has also been stopped.
The user who shared the viral post with the false claim is followed by over 7,000 people on Facebook. Vishvas News fact-check reports on the investigation of viral claims related to other bank notes including Rs 2000 notes can be read here.
Conclusion: The claims on need to submit id proof and fill a form for exchange of Rs 2,000 notes are false. There is no need to fill any form or produce any identity proof to exchange Rs 2,000 notes after their withdrawal from circulation.
- Claim Review : People will have to fill out a special form and show their identity proof to exchange Rs 2000 notes
- Claimed By : Fb user: Md Zakariya Khan
- Fact Check : Misleading
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