Now, withdraw, deposit Rs 40K with SBI debit cards

The State Bank of India customers could withdraw, deposit or remit up to Rs 40,000 through their debit cards, thanks to a new paperless banking facility that the nation's largest lender launched on Thursday as part of its green banking initiative.

The initiative, launched at select branches, would promote paperless banking and make transactions easy and quick, SBI chief general manager Sunil Pant said in New Delhi on Thursday on the occasion of its foundation day.

The transaction can be done with the help of a machine and ATM-cum-debit card, Pant said, adding, and the final processing will be done through a single window.

Under this facility, one can withdraw, deposit or transfer up to Rs 40,000 in a day, without filling in any form. Initially in the Delhi zone four branches will offer this facility.

It makes transaction quick and hassle-free. At the same time, it is cost-effective and environment-friendly, Pant said.

On the occasion, he said, the bank provided loans to 1,115 people belonging to weaker section of the society at 4 per cent under differential rate of interest scheme in Delhi.

It can be noted that SBI had recently commissioned a wind power farm in Coimbatore recently as part of its efforts towards promoting green energy, and is planning to launch similar initiatives in other states.