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12:02 PM
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The Reserve Bank of India (RBI) had announced on May 19 the withdrawal of Rs 2,000 currency notes but gave the public until September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks.
8:10 AM
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Banks are gearing up to manage the reverse flow of Rs 2,000 banknotes from Tuesday. The Reserve Bank of India (RBI) estimates that most of the Rs 3. 6 lakh crore of this high-denomination banknote in circulation will be turned in over the next four months. The RBI has asked banks to maintain separate daily records of the value of notes submitted for exchange and those deposited. The central bank said it would call for this data when required.
2:04 AM
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The bank's retail loan book is currently about ₹10,000 crore, which is roughly about 20% of the bank's total advances of ₹50,000 crore. Almost half of retail is gold loans, followed by mortgages (20%) and unsecured (10%). The corporate loan book is about ₹35,000 crore while loans to SMEs are about ₹5,000 crore.
12:10 PM
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