It will be a cakewalk for people hitherto fed up with standing in long queues for depositing cash as the premier State Bank of India installed a Cash Deposit Machine (CDM) here on Saturday.
Inaugurating the facility at SBI main branch here, SBI General Manager (Network 3) A.N. Appaiah said “the CDM is designed to meet requirements of a cross-section of customers 24 x 7”.
“It is a boon particularly to migrant workers who can deposit cash from his place of work with green remit cards so that their family members can withdraw cash back home instantly without any charges”. Businessmen who feared leaving huge cash in their shops overnight, could make deposits through the CDM after closing down their shops, he said.
“We have put into operation about 60 CDMs in the Hyderabad circle. Based on its working, more CDMs will be installed over a period”, he added.