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11
November 2016
As much as Rs53,000 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.
She said the bank received Rs31,000
crore on Thursday and Rs22,000 on Friday.
According to her, the SBI also exchanged
currencies valued around Rs1,500 crore.
On Tuesday, the Centre announced Rs 500
and Rs 1,000 notes ceased to be legal tenders from November 8 midnight. The Total Investment & Insurance
Solutions
"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. The Total Investment & Insurance Solutions
The bank's unamortised loss on account
of selling its assets to Asset Reconstruction Companies as on September 30,
2016, stands at Rs 516 crore. The Total
Investment & Insurance Solutions
The bank's Board of Directors also
approved issuance of maximum 13,63,65,146 equity shares of face value of one
rupee each, to the shareholders of State Bank of Bikaner and Jaipur (SBBJ),
State Bank of Mysore (SBM), State Bank of Travancore (SBT) and the government
of India (GoI) for its shareholding in Bharatiya Mahila Bank Limited (BMBL) as
on the record date at the agreed swap ratio as under:
a) For minority shareholders of SBBJ --
28 equity shares of SBI of the face value of Re 1 each to be issued in lieu of
10 equity shares of SBBJ of the face value of Rs 10 each.
b) For minority shareholders of SBM --
22 equity shares of SBI of the face value of Re 1 each to be issued in lieu of
10 equity shares of SBM of the face value of Rs 10 each.
c) For minority shareholders of SBT --
22 equity shares of SBI of the face value of Re 1 each to be issued in lieu of
10 equity shares of SBT of the face value of Rs 10 each.
d) 4,42,31,510 Equity shares of SBI of
the face value of Re1 to be issued to the Government of India in lieu of their
shareholding in BMBL (i.e. 100 crore shares of the face value of Rs10 each).
As a result the issued capital of the
SBI will go up from Rs776,35,98,072 to Rs789,99,63,218 (maximum), subject to
approval of the schemes of acquisition of SBBJ, SBM, SBT and BMBL by the
government of India.The Total Investment
& Insurance Solutions
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