State bank of India (SBI) one of the largest public sector bank in India. SBI has introduced many online and offline facilities to make the banking service hassle-free. Recently state bank of India launches ATM on wheels services to helps the customers to withdraw cash easily.
Before entering into SBI new service, let us see brief explanation about SBI. State Bank of India is the multinational public sector bank which has the headquarters in mumbai, maharashtra. SBI has more than 16,000 branches (including branches in foreign). There are 191 foreign branches in 36 countries. All these branches are controlled by Reserve Bank of India. All the 16k branches has unique 11 character alphanumeric IFSC code.
Note: State Bank of India IFSC code is used during fund transfer between banks and branches (Both inter and intra banks)
State bank of India recently launched ATM on wheel facilities in major cities India. ATM on the wheel travel place to place where the consumer in need of urgent cash (ie) places like market, shopping areas, hospitals etc.
In Tamilnadu, Mobile ATM was introduced in madurai where the city has around 750 ATMs. Being on the greatest metropolitan city in Tamilnadu, cash flow in the city was high. Moving ATM got huge response from the customers.
It can be also parked outside the warehouses and factories in order to allow employees to withdraw cash instantly getting out from the factory.
All the 16,000 branches are providing various online and offline service for their customers. One among them is cheque collection. In order to reduce duplicate cheque, RBI has issued MICR code for all the branches.