SBI Partners with NCR to introduce Intelligent Cash Deposit ATMs for a LessCash society

Readers might remember that Axis Bank had initially deployed 200 Cash Deposit Machines in its branches. Currently, the CDM’s are available at 540 branches. In 10 branches, the CDMs’ are open 24*7, 365 days.

State Bank of India has decided to follow a similar strategy. SBI has placed an order with NCR, for deployment of   600 NCR SelfServ 32 Intelligent Cash Deposit ATMs across India. This order is the country’s largest single order for cash deposit ATMs.

The NCR SelfServ 32 with its large cash holding capacity ensures higher availability, while its innovative security feature validates genuine and counterfeit notes before accepting or crediting, and further facilitates tracing every note to the depositor to counter frauds.

NCR’s solutions will allow SBI to offer an array of revenue generating and customer serving opportunities such as bill payments, funds transfer and remittance via traditional card-based or cardless approach, mobile phone top-up, and couponing – making everyday consumer interaction exceptional.

What is exciting is that the ATMs’ are capable of cheque deposits too. In the near future, the exact locations where the deployment will happen will be known.  Over a period of time, these machines should be able to promote RBIs’ vision of LessCash society.

SBI or its associate banks ATMs’ can be located at this URL

In November 2012, the number of ATM’s in India had crossed the 1 lac mark, with SBI and its associate banks accounting for 50% of the same.

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