To save a .xml spreadsheet in a distinct folder of a local drive

I'm not sure I fully understand what you want to do but please try the code below anyway. It's necessary that the referenced Range("A1") should hold a valid file name, including the extension.

Sub SaveACopy()
    ' 052

    Dim Fn      As String           ' file name

    Fn = "E\Backup\SWARNALI\RTGS TEMPLATE(PARTY)\" & Range("A1").Value
'    Debug.Print Fn
    ActiveWorkbook.SaveCopyAs Fn
End Sub

This code will save a copy of the ActiveWorkbook in a folder specified in the code, by a name specified in cell A1 of the ActiveSheet. The action isn't the same as you seemed to attempt with your own code because the above will create an independent copy, a snapshot as it were. You can continue working with the original workbook and make more changes and then save the newly changed workbook again under another name.

Of course, the file name must be correct. Therefore I left the line of code to print it to the Immediate pane in the procedure. You can reactivate it when you want to check the name.

BTW, on this site code tags are

. You can add them manually or click the "CODE" button in the menu bar above the posting window to insert a pair. If you write or paste the code first, you can select the code and then press the button to insert tags around your selection.