Logistics

South Central Railway, SBI ink MoU

Our Bureau Hyderabad | Updated on January 13, 2020 Published on January 13, 2020

The South Central Railway (SCR) and State Bank of India (SBI) have entered into a Memorandum of Understanding for direct pickup of earnings covering all 585 Railway stations over SCR.

The direct pick up of cash from all the railway stations on SCR as per the MoU dispenses with the tedious and complex activity of movement of cash earnings through "Cash Safes” by trains.

This will enable hassle free collection of traffic earnings by SBI and remittance into Government account avoiding delay in transmission of traffic cash earnings.

At present, the earnings generated at smaller railway stations each day are sent through cash bag dropped in the cash chest available with the Guard of the nominated trains.

In case of major stations, earnings are remitted by the concerned commercial supervisor at the nominated nearest banks, which necessitates that Security escorts from Railway Protection Force (RPF) personnel, according to a release.

Published on January 13, 2020
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