Wednesday , 7 December 2016
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SBI Collects Rs. 1,14,139 Crore In Deposits In Seven Days

Mumbai: State Bank of India (SBI) on Wednesday said it collected Rs. 1,14,139 crore in deposits in last seven days after the government announced demonetisation of Rs. 500 and Rs. 1,000 notes.

In a statement here on Wednesday, SBI said it saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 p.m.

The government announced demonetisation of Rs. 500 and Rs. 1,000 notes on November 8. Banks were opened for transactions from November 10 but were closed on November 14 on account of Guru Nanak Jayanti in major parts of the country.

The country’s largest lender exchanged Rs. 5,776 crore of old Rs. 500 and Rs. 1,000 notes since November 10. It said there were 151.93 lakh cash withdrawal transactions amounting to Rs. 18,665 crore in the last seven days.

People are allowed to exchange Rs. 4,500 worth of old Rs. 500 and Rs. 1,000 notes per day.

The cash withdrawal limit at ATMs is Rs. 2,500 a day.

One can withdraw cash against a withdrawal slip or a cheque subject to a weekly limit of Rs. 24,000 including withdrawals from ATMs and over-the-counter from bank accounts.

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