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    About Rs 2 lakh cr deposited in banks till Saturday afternoon

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    Finance Minister Arun Jaitley said around Rs 2 lakh crore has been deposited till 12.15 pm on Saturday in banks across the country, following demonetisation of Rs 500 and Rs 1,000 notes.

    “The largest banker in the country State Bank of India (SBI) saw deposits of Rs 47,868 crore till Saturday afternoon,” Jaitley said while briefing the media here.

    He said SBI’s deposit is around 20 per cent of the total deposits in all the banks in the country.

    Jaitley also said that despite allegations by opposition parties that there was spike in bank deposits leading up to the demonetisation announcement, no such spike has been seen in any month, except September 2016.

    “That month the increase was because of money released on account of the Seventh Pay Commission payments,” he added.

    Therefore, there is no substance in the allegations that information about demonetisation was leaked.

    Jaitley also said that it will take two-three weeks to recalibrate the ATMs across the country for the new notes. “It will be a slow process,” he said.
     

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