Northeast Frontier Railway signs MoU with SBI for cash pick-up at 400 stations
Guwahati: Northeast Frontier Railway (NFR) has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to provide cash pick-up facilities at 400 stations across the NFR network.
The MoU was signed at the NFR Headquarters in Maligaon, Guwahati in the presence of Chetan Kumar Shrivastava, General Manager, Northeast Frontier Railway, along with senior officials of SBI and NFR.
Under this arrangement, SBI will collect cash from designated stations and ensure its timely deposit into the respective SBI branches.
The system will allow real-time tracking of cash movement through GPS-enabled vehicles and aims to reduce risks associated with theft, loss, or misappropriation.
The facility is expected to reduce expenditure on vehicle hiring and security personnel, while also decreasing the need for staff to transport cash manually.
This is intended to allow station staff to focus on operational and commercial activities.