The idea behind the move is rationalisation following SBI's merger with six associate banks and the Bhartiya Mahila Bank (BMB) which came into effect from April 1, 2017.
Launched in 2004, the National Pension Scheme (NPS) is a government-sponsored pension scheme that can be of great help. Initially available only for government employees, in 2009, it was opened to all sections.
A Cash Recycling machine, unlike a regular ATM, performs a dual function. It helps real-time banking by not only dispensing but also accepting/depositing cash. It automates manual cash management, thus reducing the manual labour of bank staff members.