Financial Daily from THE HINDU group of publications
Sunday, Feb 23, 2003
Financial Daily from THE HINDU group of publications Sunday, Feb 23, 2003 |
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Money & Banking
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New Products & Services Marketing - New Products & Services Godrej & Boyce launches note banding machine Our Bureau
HYDERABAD, Feb. 22 THE securities equipment division of Godrej & Boyce launched high-speed bank note banding machine, specially designed for quick banding of currency notes in banks, under the brand `Q-Band' here on Saturday. In a press release, the company said the new equipment would help banks eliminate the problem of banding notes manually. It also provides a neat and elegant band. The plug-and-play machine is priced at Rs 35,000 a piece with sales tax and other levies extra applicable. The product would provide a superior solution to enhancing efficiency in banking note processing, the company said. It also boasted of a microcomputer control and precise electromechanical design that would provide accurate and fast operations, about two seconds per band. The engineering design not only allowed easy and automatic adjustments to the position, but also to the loop size, based on the size of the notes that were placed for banding, the release said.
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