SBI’s deposits zoom by `53,000 cr in 2 days

Mumbai: As much as Rs 53,000 crore were deposited with the State Bank of India (SBI) during the last two days after the government’s demonetisation move, bank Chairperson Arundhati Bhattacharya said on Friday, reports IANS. She said the bank received Rs 31,000 crore on Thursday and Rs 22,000 on Friday.  According to her, the SBI also exchanged currencies valued around Rs 1,500 crore. On Tuesday, the Centre announced Rs 500 and Rs 1,000 notes ceased to be legal tenders from November 8 midnight.”The cash is drying up. But we are taking care of it. There is no need to panic. We still have 50 days in hand. Nothing is going out of fashion. Till that time, please publicise the use of debit cards,” she told reporters here while announcing the bank’s second quarter results.The SBI said it closed the second quarter of the current fiscal with a lower net profit of Rs 2,538.32 crore. The bank said it has posted a net profit of Rs 2,538.32 crore for the quarter ended September 30, down from Rs 3,879.07 crore for the quarter ended September 30, 2015. The bank’s total income for the period under review increased to Rs 50,742.99 crore compared with Rs 46,854.81 crore for the quarter. ended September 30, 2015.