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Madurai, Nov. 17

State Bank of India has inaugurated its 5th MICR (magnetic ink character recognition) cheque processing centre at Sripuram branch in Tirunelveli. The Rs 1.63-crore high-tech device has the capacity to electronically process 600 cheques a minute and will cater to the needs of 69 branches of various banks in the district. Mr F.R.Joseph, Regional Director of RBI, inaugurated the centre in the presence of Mr Anoop K. Prabhakar, General Manager, Network 2, SBI, Local Head Off ice, Chennai, the sources said.

— Our Correspondent

More Stories on : Public Sector Banks | State Bank of India | Tamil Nadu

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