Current Affairs

MoU signed Between SCR of Indian Railways and SBI

Current context: A Memorandum of Understanding was signed between South Central Zone of Indian Railways and State Bank of India for Doorstep Banking.
MoU signed Between SCR of Indian Railways and SBI 
  • The doorstep Banking will provide direct pickup of earnings covering all 585 Railway stations over SCR Zone.
  • The direct pick up of cash from all the railway stations on SCR dispenses with the tedious and complex activity of movement of cash earnings through “Cash Safes” by trains.
  • This will enable hassle free collection of traffic earnings by SBI and remittance into Government account avoiding delay in transmission of traffic cash earnings.
  • Major benefits from the MoU are as follows:
    1. All the railway stations will have uniform cash remittance mechanism.
    2. Real time information about the cash being deposited by different stations which will help in better supervision and accountability.
    3. Avoidance of unwanted accumulation of cash at railway stations.
    4. Smart way of remittance of station earnings.
  • Prior to the MoU, the earnings generated at smaller railway stations each day were being manually sent with the Guard of nominated trains which necessitated that Security escorts from Railway Protection Force (RPF) personnel accompany the official.

Question: 

Q.1 The South Central Zone of Indian Railways has recently signed a MoU with which Bank for Doorstep Banking for direct pickup of earnings covering all 585 Railway stations over SCR Zone?
a. Bank of India
b. ICICI Bank
c. State Bank of India
d. Axis Bank
MoU signed Between SCR of Indian Railways and SBI MoU signed Between SCR of Indian Railways and SBI Reviewed by Neha Verma on January 14, 2020 Rating: 5

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