Northeast Frontier Railway (NFR) has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to implement cash pick-up facilities at 400 stations throughout its network. This agreement, established at NFR Headquarters in Guwahati, aims to enhance financial efficiency, safety, and transparency in cash management practices. SBI will facilitate a secure mechanism for cash collection, ensuring timely deposits into the bank. The initiative will standardize cash handling processes, improve accountability, and enable real-time tracking of cash movements using GPS technology, thereby mitigating risks like theft or misappropriation. It is anticipated to reduce costs associated with vehicle hiring and security personnel, while allowing station staff to concentrate on operational duties. NFR emphasizes that this modernization effort is crucial for transparency and improved public service delivery.
Boost to Financial Transparency: NFR Collaborates with SBI for Secure Cash Management
