J&K Bank commissions 11 cash depositing machines

Srinagar: Increasing its digital footprint to further public convenience, J&K Bank has commissioned a network of 11 cash deposit machines (CDM) across the state, wherein cash can be deposited in savings, current, cash credit, overdraft and credit card accounts maintained with the bank.
As per the statement issued by the bank here on Wednesday, the CDM’s have been installed at Jehangir Chowk (Nabira Complex), Residency Road (Srinagar), Residency Road (Jammu), New Colony Sopore, T P Baramulla, Pulwama Main Court, University Campus Hazratbal, Jawahar Nagar Main, SMC Shop-Partap Parak, Gole Market Udhampur and Buss Adda Anantnag.
The debit card at CDM enables depositing of cash in the cardholders accounts only and not in accounts of any other person, said the statement. “However, accessing the CDM through an account number will enable deposit of cash in the account number entered, which can be of the depositor or of any other person. Like ATM transactions, the money deposited in CDM gets reflected in the account balance in real time,” the statement added.
The statement said the cash to be deposited must be straightened before deposit and must not be stapled, threaded or banded and sorting of notes is not required as the same shall be done by the machine. A maximum of 200 notes can be deposited at a single time. The machine accepts notes of denominations of 50, 100, 500 or 1000 only.
In the first phase, the bank shall commission 14 more such machines, whereas by the end of this financial year the Bank shall install 100 more such facilities across J&K, the statement added.
In addition to cash deposit facility the CDM terminal can also be used to check balance of the account, print a mini statement and change debit card pin.

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