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State Bank of India’s Demonetisation Deposits swell to Rs 75,945 Crore, after PM Modi’s Masterstroke Move

The total value of cash withdrawals during the period under review was Rs.7,705 crore from 103.09 lakh transactions

State Bank of India, Chandni Chowk, Delhi. Wikimedia

Chennai, Nov 14, 2016: India’s largest lender State Bank of India (SBI) has seen Rs.75,945 crore in deposits since the demonetisation of high-denomination currency notes on November 8, said a senior official on Sunday.

“The cumulative deposits (of invalid Rs.500 and Rs.1,000 notes) position for the period 10.11.2016 to 13.11.2016 (till 5 p.m.) is Rs.75,945 crore from 165.78 lakh transactions,” said the official, who wished not to be identified.

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The official said the bank has exchanged old notes for valid legal tenders worth Rs.3,753 crore in 103.09 lakh transactions.

The total value of cash withdrawals during the period under review was Rs.7,705 crore from 103.09 lakh transactions.

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On Tuesday, the Centre announced that Rs.500 and Rs.1,000 notes would cease to be legal tender from November 8 midnight. (IANS)

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Prince Charles Arrives in New Delhi for two day Visit to Meet PM Narendra Modi

Prince Charles, the Prince of Wales, accompanied by his wife arrived New Delhi for a two-day visit to India to complete their 10-day four-nation tour

Prince Charles
Prince Charles visits India with his wife for two days. Wikimedia.

New Delhi, Nov 9: Prince Charles, the Prince of Wales, accompanied by his wife, the Duchess of Cornwall, Camilla Parker-Bowles, arrived New Delhi on Wednesday on a two-day visit to India at the final leg of their 10-day four-nation tour that also took them to Singapore, Malaysia and Brunei.

“Their Royal Highnesses Prince of Wales and the Duchess of Cornwall arrive,” the British High Commission in India tweeted.

Prince Charles is scheduled to meet Prime Minister Narendra Modi on Wednesday evening and discuss a wide range of issues, including that of the Commonwealth Heads of Government Meeting (CHOGM) which will take place in April 2018 in the UK.

Prince Charles
Prince Charles arrives in India with his wife. IANS.

Ahead of the royal couple’s arrival, External Affairs Ministry spokesperson Raveesh Kumar said climate change, Sustainable Development Goals (SDGs), economic cooperation, and other bilateral issues would also come up for discussion.

Bilateral trade between India and Britain stands at $12.19 billion. India is the third largest investor in Britain and the second largest international job creator in that country.

Britain is the third largest inward investor in India, with a cumulative equity investment of $24.37 billion for the period April 2000-June 2017

The Indian diaspora in UK is one of the largest ethnic minority communities in the country, with the 2011 census recording approximately 1.5 million people of Indian origin equating to almost 1.8 percent of the population and contributing 6 per cent of the country’s GDP.

This will be Prince Charles ‘s ninth visit to India. He had earlier visited India in 1975, 1980, 1991, 1992, 2002, 2006, 2010 and 2013. (IANS)