Axis Bank Ltd.

Axis Bank has launched a smart self-service terminal that allows customers to deposit as well as withdraw cash from the same machine. Customers can initiate a deposit transaction through the smart self-service terminal even without using a debit card and will receive instant credit for the deposited amount.

There is no cap on the amount of cash deposited by the customer through these terminals, provided his/her PAN details are available with the bank. The smart self-service terminal will reduce the frequency of loading cash in the machine as well as the cost of idle cash as it allows cash recycling operations by dispensing deposited cash for future withdrawal transactions, thereby improving efficiency of the bank's cash operations.