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In banking, technology has become an indispensable part in providing customer service, said Dr C. Rangarajan, Chairman, Prime's Economic Advisory Council, while inaugurating the e-banking lounge of Indian Bank. The e-banking lounge is like an ATM which offers all the services of a bank branch like cash deposit, cash withdrawal, cheque deposit with acknowledgement, Internet banking and touch screen banking for all account transactions.
However he cautioned that use of technology has it own issues and, therefore, when funds are transacted and transferred banks should ensure accuracy, safety and confidentiality.
Mr T. M. Bhasin, Chairman and Managing Director, Indian Bank said the bank expects to launch ten such e-banking lounges across the country in a year's time. The bank would launch two more in Chennai, shortly. (The cost of an e-banking lounge is about Rs 32 lakhs)
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