SBI says Rs1.2 trillion deposited since demonetisation announcement

Arundhati Bhattacharya says SBI will be doing good business in the quarter since one-third of the total amount deposited after demonetisation was in the bank


About the problem of availability of Rs100 and Rs500 notes, SBI chairperson said as far as Rs100 notes were concerned, there was plenty of supply. Photo: Pradeep Gaur/Mint
About the problem of availability of Rs100 and Rs500 notes, SBI chairperson said as far as Rs100 notes were concerned, there was plenty of supply. Photo: Pradeep Gaur/Mint

Coimbatore: State Bank of India (SBI) chairperson Arundhati Bhattacharya on Wednesday claimed that nearly Rs1.20 trillion has been deposited during the last 15 days after demonetisation of high denomination notes.

Replying to a specific question on the impact of demonetisation on the bank’s performance, Bhattacharya told reporters at the city airport that about Rs1.20 trillion has been deposited by the public during the 15 days. Asked about the performance during this quarter, in view of this sudden surge of deposits, she said the performance will be better and the bank would be doing good business, since one-third of the total amount deposited after demonetisation was in SBI.

About the problem of availability of Rs100 and Rs500 notes, Bhattacharya said as far as Rs100 notes were concerned, there was plenty of supply. However, people were not keen on spending and were bothered about exchange and depositing high value currency, she claimed.

“Yes. Rs500, lack of it has been an issue. However with supply being strengthened by RBI, the problem will be solved in a few days.We are going to put the Rs500 notes in all our recalibrated ATMs so that the people can utilise it,” she said.

Asked about reports of loan waiver to Vijay Mallya, Bhattacharya said time and again the bank has come out with clarification. Technical and physical write-off is not waiver and the bank was doubling efforts to recover all dues and not reducing the efforts. “Those who are alleging, is doing with an intention of creating mischief,” she said.

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