The Hindu Business Line : PSBs woo Govt staff for salary accounts

WHILE most new-generation private sector banks tie up with corporates for salary accounts, nationalised banks are trying to draw the attention of State Government employees and officials.

Until now, State Government employees were paid salary in cash; therefore there was no compulsion to open a salary account.

The Tamil Nadu Government's recent decision to disburse salaries through the electronic clearing system (ECS) instead of cash is now driving the Government staff to open new bank accounts.

Though the ECS payment has been introduced in Chennai, it has just begun to take off in other cities.

Banks on their part are trying to woo customers by offering special concessions during the introductory offer period.

To facilitate opening of accounts without any hassle, State Bank of India is willing to deliver the account opening form to the customer at his doorstep, enclosing the mandate letter to the Government, the ATM card application form, and the requisition for Net banking account as well.

Besides, Government staff can open the account with zero balance, albeit for a limited period.

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