State Bank of India has introduced a new facility to the banking system to reduce the wastage of paper and to save the precious time of the customers. An official from the bank said that apart from the regular counters the bank will introduce an additional counter in the banks where the customers could swipe their ATM card and enter the PIN to receive cash from the person operating the counter.
"In this way, there will be no requirement for paperwork and the process of money withdrawal will be fast," said I D Mozumdar SBI General Manager for network.
Under the Financial Inclusion Plan The State Bank of India has been given the responsibility to provide basic banking facilities to 408 villages of Jharkhand state with population over 2,000. The bank expects to equip 200 villages of the state with banking facilities by March this year.
Mr Mozmdar further said , "We do not require brick and mortar branches these days to extend banking facilities because technology has made the work easier and SBI is fortunate to have all the modern banking technology".
The bank plans to provide banking facility to the villages through mobile-based banking and bio-metric smart card. The bank has appointed Business Correspondents to implement these schemes .
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