The State Bank of India will launch a correspondent banking service from Friday night at its Shalimar Garden branch where customers will be able to get up to Rs1,000 in notes of Rs100 from 8pm to 12am.
The service will allow the customers to swipe their credit/debit card at the hand-held ATM cash machine with the bank’s correspondent service provider (CSP) who will be stationed at a nearby shop and the money will be deducted from their account. The service will start at 8pm after the bank branch closes.
“The CSP will have Rs50,000 cash with him in Rs100 denominations and the limit per customer has been fixed at Rs1,000. We have tied up with a nearby shop called ‘Metro Electrical’ at Girdhar Plaza complex in Shalimar Garden extension 2 where the CSP will sit till 12am with the hand-held cash machine,” said Gyanendra Prasad Srivastava, SBI Shalimar Garden branch manager.
The service has been launched for the convenience of the customers who might not have been able to get cash from the bank during the day and are unable to find an ATM with cash.
While the CSP service is for anyone who holds a bank account, another service has also been launched by the bank wherein account holders can withdraw money from their account from kiosks set up at designated shops.
“The kiosks have the same software used at the banks for withdrawal of money by account holders. It has been set up at two places for now – one at a medical store in Pasonda and another near our branch at Shalimar Garden. Here, account holders can withdraw money up to Rs2,000,” said Srivastava.
The bank has tied up with a private firm to provide people who will sit with the cash for both the services.
“In both services, the person hired will be given Rs50,000 every day for disbursement. They will have to show all the bills to prove that all the cash was distributed to customers and only after that will we give them the next batch of cash,” said the manager.
He added that this is the first such service in Ghaziabad and will be extended to more places in the city in the days to come.
“We are planning to have more such providers at other places in the city as well. We may also increase the limit from Rs1,000 to Rs2,000 later,” said Srivastava.
The security personnel for the CSPs have also been privately hired.
“Our company will provide us security to stay safe late at night with the cash. Moreover, police officials have also been informed about the service and their PCR van will keep patrolling in the area,” said Devender Sharma, a CSP.