Indore, May 26 (PTI) The Confederation of All India Traders (CAIT) on Friday said the Reserve Bank of India must set up a standard operating procedure (SOP) for banks for deposit and exchange of Rs 2000 notes.

Also Read | Maharashtra SSC Result 2023: MSBSHSE To Declare Maharashtra Board Class 10 Results Soon at mahresult.nic.in, Know Steps To Check Score.

The RBI recently announced withdrawal of Rs 2000 notes from circulation and asked people to deposit it in banks or get it exchanged by September 30.

Also Read | New Parliament Building Inauguration: Delhi Police Issues Traffic Advisory for Inauguration of New Sansad Bhavan on May 28, Check Details Here.

"Every bank has its own way to exchange or deposit Rs 2000 bills, which is causing hardship to housewives and traders. The RBI must have a common SOP for all banks,” CAIT president BC Bhartia told reporters here.

"Permanent Account Number (PAN) and Aadhar Card details were being sought from people depositing and exchanging Rs 2000 notes. People fear they would face action after they divulge such details," he added.

He also claimed withdrawal and banning certain denominations in this manner in a short span hits the credibility of the country internationally.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)