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Chronicles from local trains in Mumbai

Do not fold your cheques. Never ever!

Following is a crash course in latest technologies in banking sector – and we are still a ‘developing’ country – of course!

Lesson learnt today @ same place, same time

i.e. the 8:12 am , fast local , Mulund to Kurla.

So since me and mother take the same train to work every morning, we do the mundane tasks of gossiping and passing stuff to each other en-route our destination.So I gave her the cheque I was supposed to.

Mother: Thank you. I will fold it and keep it in my bag.

Lady A: Ooooooo!! Do not fold your cheque – says RBI.  I once went for a training workshop. The trainer was telling us how folded cheques just fall in the machine, as the machine does not accept it, and the staff there painfully try to straighten it – for the machine to accept it.

Me to myself: Tuff job, aye!

Lady B: Yeah Yeah. Even a small fold at the corner and the machine rejects it. Some private banks here have a machine for cheque collection at their ATM centres, which reject folded cheques. And the receipt after dropping the cheque is a scanned copy of your cheque.

Me to myself: Wow – thats so cool!!!

Lady A: Some remote branches of XYZ banks also have this machine, where the machine sends a scanned copy of the cheque deposited to the concerned branch for record-keeping.

Me to myself: Talk about technology.

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About Sarita

My 10,000th day on Planet Earth was June 28, 2010

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