Home / Industry / Banking /  Demonetisation: Banks received Rs5.12 trillion worth deposits till 18 Nov, says RBI

Mumbai: Banks received 5,44,571 crore in deposits and old notes submitted for exchange from the time banks reopened after currency demonetisation till 18 November, the Reserve Bank of India (RBI) said.

This includes deposits of 5,11,565 crore and exchanged currency notes of 33,006 crore, the central bank said in a statement on its website. The figures were reported by RBI counters, regional rural banks and urban cooperative banks.

“They (banks) have also reported that the public have withdrawn, during this period, 1,03,316 crore from their accounts either over the counter or through ATMs (automated teller machines)," the statement said.

Customers are allowed to withdraw up to 2,500 per day through ATMs and 24,000 a week from their savings accounts at bank branches by issuing cheques and other such instruments. In a separate notification on Monday, the RBI said that customers will be allowed to withdraw 50,000 per week, through their current accounts, overdraft facilities and cash credit accounts.

India’s largest lender State Bank of India (SBI) on Friday said it had received 1.27 trillion worth of cash deposits and saw exchanges worth 6,477 crore. The bank also reported withdrawals worth 23,340 crore.

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