Banking services at railway stations

In order to make its banking transactions more secure, the Bangalore Division of South Western Railways has floated tenders inviting nationalised banks to provide door-step banking services at railway stations.

Senior Divisional Commercial Manager N Ramesh said, “We are spending around `2 lakh every month to remit money safely to the banks. With the permission of the Railway Board, we had invited tenders in accordance with the Reserve Bank of India guidelines. State Bank of India has offered to provide door-step banking at Bangalore and a few other stations, but Axis Bank has come forward to provide services throughout the division. We might award the tender to one of these banks in the near future.”

Ramesh said the bank which came forward to provide banking services would collect the money remitted by 144 booking units, including the 108 railway stations in the division. The bank would have the liberty of keeping the money for two days before remitting it to the railways account, he said.

The railways had engaged three vans and employed six security personnel from the Railway Protection Force, six staff members from railways accounts department and drivers to transport the cash, he said.

Ramesh said some more banking services could be included into door-step banking for the benefit of the passengers in future.