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The South Central Railway zone signs MoU with SBI for “doorstep banking”

The South Central Railway (SCR) zone of Indian Railways has signed a memorandum of understanding (MOU) with State Bank of India for “doorstep banking” that will enable direct collection of earnings. The MoU will coverall the 585 railway stations of the zone. The MOU was signed on January 13, 2020 by the SCR zone and the SBI officials in Secunderabad.

According to the MOU, the direct pick up of cash from all the railway stations under the SCR zone dispenses with the complex as well as tedious step of movement of cash earnings through the ‘cash safes’ by trains. This doorstep banking system will allow an easier and hassle free collection of traffic earnings by the SBI and will also allow remittance into the government account, by avoiding delay in transmission of the cash earnings.