From today, the change of 2000 rupee note is going to start. As soon as the banks open, people will reach with Rs 2000 notes. You can either deposit these notes in your account or exchange them, that is, exchange them for 50, 100, 200, 500 rupee notes. The Reserve Bank of India (RBI) has issued guidelines for exchange of notes.
People still have a long time till September 30 to exchange 2000 notes. Means more than 4 months. RBI Governor Shaktikanta Das has said the same thing on Monday that people do not need to worry about crowding banks. They can easily go and exchange the notes within 4 months.
Neither any identity card nor any slip is required to exchange the note. In banks also you have to give 2000 note and in return you have to take loose money. Means 50, 100, 200 or 500 rupee notes. The more money you pay in 2000 notes, the more money you will get back in the form of smaller notes.