Leveraging technology for improving customer service, the State Bank of India (SBI) has opened a cheque processing center based on Magnetic Ink Character Recognisation ICR technology at its zonal office in Bhubaneswar. | |
| This will facilitate clearance of the cheques in a much faster and accurate way, according to VSG Chandra Sekhar, chief general manager, SBI, Bhubaneswar circle. |
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| In Orissa, SBI has been managing clearing houses at 27 centres except Bhubaneswar where the responsibility is shouldered by local office of the Reserve Bank of India (RBI). |
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| At all the centers the sorting of cheques is done manually and the drawee's account is credited on the third day after presentation. |
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