A cash deposit machine that will work round the clock has been installed at State Bank of India's main branch on New Sayyaji Rao Road here.
It is said to be the country's first round-the-clock cash deposit machine introduced by the bank.
Senior SBI officials said the launch was a step towards environment-friendly paperless banking. It was a convenient way of depositing cash without having to wait in queues, they said.
Businessman Subraya Baliga, a longstanding customer of the bank, launched the machine.
Senior SBI officers Krishna M. Trivedi, Neerja Nigam, Shrikant Katti and G.M. Gokaran were present.
According to SBI Mysore main branch, the maximum amount that could be deposited per transaction was Rs. 49,900 and the maximum number of notes acceptable per deposit was 200 with denominations of 100, 500 and 1,000.
Speaking to presspersons after the launch, Mr. Trivedi, general manager (network II), said the deposit machine was launched for the first time in the country.
Calling it a “green initiative”, Mr. Trivedi said the bank was planning to introduce cash deposit machines in other cities also.
A customer must possess an ATM card to deposit cash into the machine. The cash gets credited into the account instantaneously, and the machine issues a statement of deposit. There are simple steps to follow to deposit cash into the machine.
Keywords: State Bank of India