State Bank Of India

State Bank of India (SBI), country’s largest public sector lender has inked pact with ATM manufacturer and service provider NCR Corporation. It had also deployed 600 cash deposit ATMs in association with NCR. The bank is adopting NCR SelfServ intelligent deposit ATMs, which is giving its customers the flexibility to execute everyday cash deposit transactions beyond banking hours.

With this initiative, a single cash withdrawal or deposit transaction at the branch can be reduced by up to 75%. A normal withdrawal typically costs a bank between Rs 40 to Rs 45 per transaction, while the same transaction may cost about Rs 10 to Rs 15 at the ATM.