The State Bank of India has received Rs 14,000 crore in deposit and has exchanged Rs 3,000 crore, a week after RBI announced withdrawal of Rs 2,000 notes.
“Around ₹14,000 crore worth of ₹2,000 currency notes have come into the accounts as deposits, while notes worth ₹3,000 crore were exchanged through the branch network. Generally, we are about 20% of the market”, said SBI's chairman Dinesh Khara.
He also mentioned that people are more calm as the RBI had assured that the Rs 2,000 note would remain as a legal tendor and that the RBI has given a fairly wide window to exchange the notes.
The RBI on 19th May had announced that the Rs 2,000 note would be withdrawn from the economy and has given time to either deposit or exchange it from any banks by 30th September 2023.