SBI receives over Rs 80,000 crore worth of Rs 2,000 notes

- Advertisement -

State Bank of India (SBI), India’s largest public sector lender, received Rs 80,886 crore worth of Rs 2,000 notes till September 30, 2023, of which Rs 14,079 crore were exchanged and Rs 66,807 crore were deposited.

SBI could not provide information on which segment (retail or business) deposited the maximum notes, as this information is not centrally tracked.

On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 currency notes from circulation as part of its clean-note policy. As of September 30, 2023, about 96% of the Rs 2,000 banknotes in circulation as of May 19, 2023, have been returned to the RBI.

- Advertisement -

RBI Governor Shaktikanta Das has expressed confidence that all the remaining Rs 2,000 notes will be exchanged or deposited. The deadline to exchange the withdrawn notes at bank branches ended on October 7, 2023, but the facility is still available at RBI offices.

Middlemen are exploiting the long queues at RBI offices by charging customers as much as Rs 400 per bill to exchange their Rs 2,000 notes. Customers who don’t want to stand in long queues are willing to pay the commission to these middlemen.

- Advertisement -

Share this article...

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Govt launches internship scheme for youth, Rs.5000 will be given monthly to Youth

Govt launches internship scheme for youth, Rs.5000 will be given monthly to Youth

Good news for Employees! Govt announced to review NPS and make changes in pension scheme

Good news for Employees! Govt announced to review NPS and make changes in pension scheme

Budget 2024: PSU banks will develop in-house capabilities for credit assessment of MSMEs

PSU banks will develop in-house capabilities for credit assessment of MSMEs

Budget 2024: Mudra Loan Limit increased to Rs.20 Lakh

Budget 2024: Mudra Loan Limit increased to Rs.20 Lakh

Income Tax Rate changed, Check new Income Tax Slab in 2024

Income Tax Rate changes, Check new Income Tax Slab

Rs.25 crore Fraud in SBI: CBI Books Private Firm and Directors for Cheating SBI of Rs 25.62 Crore

Rs.25 crore Fraud in SBI: CBI Books Private Firm and Directors for Cheating SBI of Rs 25.62 Crore

Video: SBI Bank Employees beaten by Customers inside branch due to Loan Dispute

SBI Bank Employees beaten by Customers inside branch due to Loan Dispute

Latest News