The fourth working day every month witnesses an unusal crowd of youths at the cash deposit machine of State Bank of India’s main branch at Cantonment in Tiruchi.
The youths are salaried classes who have to deposit their money towards Equated Monthly Instalments (EMI) of loans taken from financing agencies towards housing or purchase of consumer goods.
These financing institutions fix fifth day of every month for collecting the EMI from the savings bank account of the borrowers and it is necessary for the account holders to have the adequate balance in their accounts on the midnight of the fourth working day.
As the deposit process involves at least two minutes for each customer, the depositors have to wait for some time. Customers feel that an additional temporary cash deposit machine should be set up.
(Contributed by M. Balaganessin)
