South Central Zone of Indian Railways Signs MoU with SBI for Doorstep Banking

South Central Zone of Indian Railways Signs MoU with SBI for Doorstep Banking

• The South Central Zone (SCR) of Indian Railways and State Bank of India (SBI) has signed a Memorandum of Understanding for ‘Doorstep Banking’ to enable direct pickup of cash earnings from all 585 Railway stations on SCR Zone.
• The direct pick up of cash from all the railway stations on SCR by SBI will save the tedious and complex activity of movement of cash earnings through ‘cash safes’ by trains.
• The door step banking will increase the pace of financial transactions and digitization of remittance of cash earnings of the Railways into accounts.