Northeast Frontier Railway (NFR) has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to enhance financial efficiency, safety, and transparency by introducing cash pick-up facilities at 400 stations within its network. The MoU was executed at the NFR Headquarters in Maligaon, Guwahati, in the presence of key officials, including General Manager Chetan Kumar Shrivastava. This initiative marks a significant advancement in cash management practices for the railway system.
Under the agreement, SBI will be responsible for creating a secure and systematic cash pick-up process from designated stations, ensuring the timely deposit of station earnings into the respective SBI branches. This development is anticipated to standardize cash handling across the system, increase accountability, and facilitate real-time tracking of cash movements through vehicles equipped with GPS technology. Consequently, this will minimize risks related to theft, loss, or misappropriation of funds.
The new system is also expected to lead to substantial savings on expenditures related to vehicle rentals and security personnel, all while enhancing the safety of station staff. NFR’s chief PRO, KK Sharma, noted that by alleviating the burden of manual cash transport from staff, the initiative allows them to concentrate more effectively on core operational and commercial tasks, which underscores NFR’s dedication to modernization, transparency, and improved public service delivery.