ATM Installation NICT CSP
The leading Indian multinational bank, a public sector banking and financial services statutory body State Bank of India has always tried to provide advanced technology within the reach of people's hands. A step taken by SBI in this direction is setting up of the high- tech and a one stop solution for all the banking activities. The leading government bank is planning to install internet banking kiosks at the e- corner centres. These internet banking kiosks will perform various cash related functions simultaneously, such as:
- Cash Dispensing
- Withdrawal of Cash
- Depositing of Cash
- Segregation of Currency etc.
SBI came up with the distinctive facility of 'e- corner' near its branches, which provide a machine that could give many services like the following all in one place, making cash related jobs easier for the public:
- Cash Depositing Machine
- Electronic Cheque Dispensing Machine
- Coin Vending Machine, etc.
The aim of the bank is to migrate slowly from branch- type banking to the alternative channels of banking like internet, ATM, mobile applications etc.
Some Salient Features of ATM Installation
- Approximately 45% of the transactions in SBI are currently being performed on alternate banking mediums like internet, mobile and ATM.
- According to the Chief General Manager of SBI, Lucknow Circle, Karnan Sekar- “Earlier, the usage of the alternate channel banking was restricted to only 10%. But within a span of one and half years the dependence on the alternate channels has increased to about 45%. We now wish to increase the usage to about 75-80% within the next 10- 12 months.”
- For the Security of ATMs, a step initiated by the UP police was a mobile application which when pressed will instantly alert all the nearest booths in case of emergencies. The demo of the app has already been viewed and acknowledged by RBI and will soon be rolled out across all banks.
- SBI has the largest number of branches in India with a number as high as 16, 333 and even higher number of ATMs – 59, 291.
- The bank works with about 7997 business correspondents and provides increasing number of customer service points to spread its reach to the population of remote and rural areas.
Summarising the new banking solution provided by SBI, the leading bank with maximum public sector branches is aiming to create a one stop solution for all the banking activities. The bank is planning to install various banking kiosks at its e- corner centres that will perform different cash related transactions at the same time such as the cash depositing, withdrawal, dispensing and segregation of the currency. The unique facility of e-corner started by SBI near its branches provides many cash related services such as ATMs, cash depositing machine, electronic cheque dispensing machine and coin vending machine, all at one place. SBI aims to slowly make a transition from the old style of banking that is through the branches and into the new technological age ATMs, Internet and Mobile Banking. NICT CSP leverages various existing retail shops, telecom connectivity and banking infrastructure for helping the government banks extend the branchless banking services to the common man.