Business Daily from THE HINDU group of publications Friday, May 25, 2007 ePaper |
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Money & Banking
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Customer Relationship Management RBI nod for delivering cash at doorstep Our Bureau
Mumbai May 24 Now, you do not even have to drive to your nearest ATM to withdraw cash. Instead, you can call up your bank branch or make an online request and have the cash delivered right at your doorstep. Taking the doorstep banking service one step forward, the Reserve Bank of India has allowed banks to deliver cash at the doorstep of individual customers.
IBA plea
The RBI decision follows the suggestions made by the Indian Banks' Association to extend this facility to individual customers. Earlier this facility was restricted to corporate customers. In a circular issued on Thursday, RBI said banks can deliver "cash/draft at the doorstep of the individual customers also (in addition to corporate customers/Government Departments/PSUs, etc.) either against cheques received at the counter or requests received through any secure convenient channel such as phone banking/Internet banking... "
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