Friday, May 13, 2011

Green-channel banking at more branches of SBI


on Friday, May 13, 2011

In Green channel Banking customers need not fill up any pay-in slip or cheque for depositing or withdrawing money from their account. Instead they could access the services of ATMs.Since there is no paperwork in this initiative, it is called green-channel banking.

State Bank of India (SBI) will introduce “green-channel banking” at more of its branches to promote paperless work and to facilitate faster transactions for customers, SBI sources said.

All major transactions, including withdrawals, deposits and remittances up to Rs 40,000, will be made through green-channel banking, which was introduced at 26 out of 680 branches of the bank in the first phase, the bank’s General Manager (Network-II), Devendra Prasad, said on Wednesday.

Although there was no specific number of branches to be covered in the state with these facilities in the second phase, several more branches -- including some at Berhampur, in Ganjam district -- are expected to introduce green channel counters.

"In this way, there will be no requirement of paperwork and the process of money transaction will be fast,” he said.

Around 28 per cent of the bank’s total transactions, mostly deposits are made through alternative channels, including mobiles, the internet, ATMs and green-channel banking, in 2010-11.

He said the bank would add more branches in the state during the current year. In the last financial year, it had opened 11 branches in the state.

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