drop in demand deposits
mumbai: demand deposits with scheduled banks dropped rs 2,068 crore during the fortnight ended 10 september 1999, according to the weekly statistical supplement of the reserve bank of india. during the same period, time deposits rose rs 1,020 crore, leading to a net decline of rs 1,048 crore in aggregate deposits, which were rs 7,49,844 crore.

the report also noted that currency in circulation increased rs 3,774 crore. foreign exchange reserves dropped $139 million during the week ended 24 september, and there have been no net foreign exchange inflows from foreign institutional investors for the last couple of weeks.
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sbi in major revamp
mumbai: the state bank of india will appoint a ‘technology planning’ consultant, who will advise the bank on technology upgradation. the aim is to improve the quality of service to retail and corporate clients.

as part of the plan, sbi will connect 260 branches that constitute about 75 per cent of the volume of business of the bank. the plan is expected to be implemented in two years.