Axis Bank has deployed 500 cash deposit machines at its branches in over 300 cities.
The cash deposit machines will give customers the convenience of depositing cash, with funds getting credited instantly to their accounts for all successful transactions without filling deposit slips, provides mini statement and account balance for all the card-based transactions.
The machine segregates the notes as per each denomination, counts and displays them for the customer’s confirmation before crediting the account.
This reduces the customers’ time to deposit cash from an average of 30 minutes to less than a minute, the bank said in a statement.
Beena.parmar@thehindu.co.in