INAUGURATION OF DOOR STEP BANKING & e-BALANCE SHEET FACILITY OF SBI TO SOUTH WESTERN RAILWAYBY Shri P.K. SAXENA, GM/SWR AT HUBBALLI

PR272-2015

30-01-2016

SWR

INAUGURATION OF DOOR STEP BANKING & e-BALANCE SHEET FACILITY OF SBI TO SOUTH WESTERN RAILWAYBY Shri P.K. SAXENA, GM/SWR AT HUBBALLI

PR272-INAUGURATION OF DOOR STEP BANKING & e-BALANCE SHEET FACILITY OF SBI TO SOUTH WESTERN RAILWAYBY Shri P.K. SAXENA, GM/SWR AT HUBBALLI

PressReleaseNo. 272 dated28-01-2016

INAUGURATION OF DOOR STEP BANKING & e-BALANCE SHEET FACILITY OF SBI TO SOUTH WESTERN RAILWAYBY Shri P.K. SAXENA, GM/SWR AT HUBBALLI

Shri Pradeep Kumar Saxena, General Manager, South Western Railway inaugurated the Door Step Banking and e-balance Sheet facility, the service being provided by State Bank of India—the Bankers to the Nation, in association with Accounts & Commercial Departments of SWR, was held at Passenger Reservation System(PRS) Centre, Hubballi Railway Station on Wednesday, the 27th January, 2016.

Speaking on the occasion, Shri Pradeep Kumar Saxena, General Manager, SWR said that today everywhere most of the works are being done through on line services and it is widely being used because it is fast and accurate when compared to manual working.In Railways, the door step banking is introduced, wherein the bank, through its cash management agencies will collect the money from the Stations and in turn will give the receipts.Preparation of e-balance sheet using Passenger Reservation System(PRS)/Unreserved Ticketing System(UTS) software will nullify the mistakes in accounting, Shri Saxena added.

While explaining the concept in detail, Dr. V. Chandrashekara Rao, Financial Advisor and Chief Accounts Officer(FA&CAO), SWR said that South Western Railway is the first Railway in Indian Railways to introduce Doorstep Banking for the whole zone.He said cash handling and Management in Railways has always been a dynamic phenomenon.With over 8000 stations approximately in Indian Railways(the largest transporter of men and material) and Cash being handled/managed in all these areas a huge contingent of staff were always required for this process of handling and accounting.So far, the existing system was the cash collected in the stations were moved through heavy cash chests(it can be seen in the photo) through designated trains so as to be accounted in centralized places called as Revenue Cash Office.This cash was in turn deposited into Reserve Bank of India(RBI) by Revenue Cash Office.The movement of this physical cash took considerable time for counting and accounting.

Dr. V. Chandrashekara Rao also said keeping in sync with modern trends changing and technological advancement in Banking Sector like Door Step Banking, On Line Banking, etc., Railways also felt the need for Door Step Banking, wherein the Railway cash from various cash collection points can be collected by the Banks through their agents and accounted immediately avoiding time lag and utilization of the so earned revenue for the various activities of Railways.He also stated that SWR under the aegis of its General Manager, SWR, Shri Pradeep Kumar Saxena and himself initiated for Door Step Banking with State Bank of India(the Bankers to the Nation) Managers’ and they have expressed their willingness to collect the cash from the Door Steps of Railways amidst other nationalized banks from whom expression of interest were called for.After detailed brass talks between Railways by him and Shri Y.V. Ramana Murthy, General Manager (Network-1), State Bank of India—the signing of Memorandum of Understanding(MOU) took place.Door Step Banking was finally inaugurated by our beloved General Manager, SWR, Shri P.K. Saxena on 27-01-2016, which would bring to end the tradition of movement of Railway Cash by huge iron chests to a centralized location in phased manner commencing from 1st Feb. 2016.The huge metal chests that were used by the South Western Railway to safeguard the money would become a scrap item now.Railways will be handing over anything between Rs. 3 to 4 Cr. a day to SBI.SWR becomes the first Zonal Railway in Indian Railways to go ahead with implementation of Door Step Banking with SBI in totality, covering around 301 Cash Remittance Points(CRPs) over entire South Western Railway as against Division-wise practice, followed and implemented in other railways.A new page will be turned over in the history of South Western Railway effective from 27th Jan. 2016, Shri Rao added.He thanked Shri P.K. Saxena, GM, SWR, Shri Vishal Agarwal, Chief Commercial Manager, SWR, Shri R.K. Agarwal, Deputy General Manager, State Bank of India, Lt. Col.(Retd.) Shri Haneet Din, Regional Head of Radiant Cash Management Agency for their support and co-operation.

The officials present for the function include, Shri S.S. Soin, Additional General Manager, SWR, Shri Vishal Agarwal, Chief Commercial Manager, SWR, Shri Elavarasan, Chief Signal & Telecom. Engineer, SWR, Shri H. Gul Ashfaque Mohammed, Secretary to Geneal Manager, Shri Arun Kumar Jain, DRM, Hubballi Division, Shri R.K. Agarwal, Deputy General Manager, SBI, Shri Shivanand Gumaste, Assistant General Manager, SBI, Hubballi Main Branch and other Officers and staff of SWR.

Photo Caption : Door Step Banking facility to SWRDSC-6381 : Shri Pradeep Kumar Saxena, General Manager, South Western Railway seen inaugurating the Door Step Banking facility by receiving a receipt for the amount credited toRailway Account in SBI/Hubballi from Lt. Col. (Retd.) Shri Haneet Din, Regional Head of Radiant Cash Management Agency in a simple function held at Passenger Reservation System (PRS) Centre, Hubballi Railway Stationheld on 27-01-2016.Also seen in the Picture (R to L) are : Shri S.S. Soin, Additional General Manager, SWR , Shri R.K. Agarwal, Deputy General Manager, State Bank of India, Dr. V. Chandrasekhara Rao, FA&CAO, SWR and others look on.

Photo Caption : Door Step Banking facility to SWRDSC_6387 : Shri Pradeep Kumar Saxena, General Manager, South Western Railway seen observingthe e-Balance Sheet in the Computer at Passenger Reservation System(PRS) centre, Hubballi Railway Stationin connection with inauguration of Door Step Banking & e-Balance Sheet function held on 27-01-2016.

Photo Caption : Door Step Banking facility to SWRDSC-6404 : Shri Pradeep Kumar Saxena, General Manager, South Western Railway seen addressingin connection withinauguration ofthe Door Step Banking& e-Balance Sheet organized jointly by Accounts and Commercial Departments of SWR in association with State Bank of India held at Passenger Reservation System (PRS) Centre, Hubballi Railway Stationheld on 27-01-2016.