State Bank of India  today said it collected ₹ 1,14,139 crore in deposits in last seven days after the government announced demonetisation of ₹ 500 and ₹ 1,000 notes.

The bank saw 240.90 lakh cash deposit transactions between November 10 and November 16 up to 7 PM, SBI said in a statement here today.

The government announced to demonetise ₹ 500 and ₹ 1,000 notes on November 8. Banks were opened for transactions from November 10 but were closed on November 14 on account of Gurunanak Jayant in major parts of the country.

The country's largest lender exchanged ₹ 5,776 crore of old ₹ 500 and ₹ 1,000 notes since November 10.

It said there were 151.93 lakh cash withdrawal transactions amounting to ₹ 18,665 crore in the last seven days.

People are allowed to exchange ₹ 4,500 worth of old ₹ 500 and ₹ 1,000 notes per day.

Cash withdrawal limit at ATMs is ₹ 2,500 a day.

One can withdraw cash against withdrawal slip or cheque subject to a weekly limit of ₹ 24,000 including withdrawals from ATMs and over the counter from the bank accounts.

Demonetisation cash limits imposed daily exchange and withdrawal caps to manage currency replacement and bank cash flows. The demonetisation of specified high-denomination notes led to concentrated deposit inflows and cash-exchange activity within a seven-day period; banks reported substantial cash withdrawals in the same interval. Customer-facing transactional constraints were implemented: a daily cash exchange limit for the withdrawn notes, a daily ATM cash withdrawal limit, and a weekly consolidated cap on cash withdrawals (covering ATMs and over-the-counter withdrawals against slips or cheques) to manage currency replacement and short-term cash flow.