The largest leading bank of the country - State bank of India along with its associate bank has decided to launch 4300 cash recyclers. This is new innovative step that will recycle the currency notes. These cash recyclers will accept and generate notes after reprocessing them.
These new cyclers will replace the old ATMs, the bank will set up these new cash recyclers all across the country by the end of March next year. These recyclers are made while keeping the needs and demands of all in mind. The cash recyclers are made in accordance with the visually challenged and physically handicapped people. These recyclers are equipped with proper safety measures i.e. biometric authentication, fingerprint reader etc.
The machines are capable of tracking the counterfeit notes deposited or dispensed. The risk of carrying daily earnings home for shopkeepers, traders, cabbies, and others will also be minimised. The recyclers will have the capacity of dispensing and accepting 200n notes at a time. Further the machines will accept the notes of denominations of 50s, 100s, 500s and 1,000s.