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- Cash deposit machine debuts in state

Get ready to beat the queue and make all your dealings in cash a cakewalk.

Punjab National Bank, India’s third largest bank in terms of assets, has come up with an unique cash deposit machine at its new Lalpur Chowk-based branch, which will be inaugurated by governor Syed Ahmed on Monday.

The cash deposit machine — a self-service terminal that lets a user make deposits and payment transactions — would be the first to make its debut in the state where the state-owned bank has more than 1,300 branches.

According to details, in order to use the cash deposit machine, a customer will have feed in his account number and his mobile phone number along with his name and the cash he wants to deposit. The machine would then count the amount, credit it to the customer’s account and issue a receipt.

Bank officials said apart from the cash deposit, they were also going to install cheque deposit machines, pass book printer, an ATM and an Internet connection for money transfer at the Lalpur branch that has come up at a 2,000sqft area at Anand Complex.

“The branch will be the first-of-its-kind in the state where the customers will not need the help of bank employees. They can also use the Internet facility installed at the bank to transfer money from one account to another using Real Rime Gross Settlement or National Electronic Fund Transfer. All the services would be offered free of charge,” said Ashutosh Prasad, senior manager (public relations) of Punjab National Bank.

The idea, he claimed, was to take the rush off the manned counters of the new Lalpur branch.

Besides Ahmed, the inauguration ceremony on Monday is expected to be attended by the bank’s Bihar-Jharkhand general manager S.S. Banerjee and its Ranchi circle head B.K. Mahajan.