Guwahati (Assam) [India], January 21 (ANI): Northeast Frontier Railway (NFR) has taken a major step towards strengthening financial efficiency, safety and transparency by signing a Memorandum of Understanding (MoU) with the State Bank of India (SBI) for providing cash pick-up facilities at 400 stations across the NFR network.

The MoU was signed at the NFR Headquarters in Maligaon, Guwahati, in the presence of Chetan Kumar Shrivastava, General Manager, Northeast Frontier Railway, along with senior officials of the State Bank of India and NFR.

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The initiative marks an important milestone in improving cash management practices across the railway system.

Under this arrangement, SBI will provide a secure and organised mechanism for cash pick-up from designated stations and ensure the timely deposit of station earnings into respective SBI branches.

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The system will bring uniformity in cash handling, enhance accountability and enable real-time tracking of cash movement through GPS-enabled vehicles, thereby reducing risks associated with theft, loss or misappropriation.

The new facility is expected to result in significant savings in vehicle-hiring and security manpower costs, while also enhancing the safety of station staff.

By relieving staff from manual cash transportation, the initiative will allow greater focus on core operational and commercial functions, reinforcing NFR's commitment towards modernisation, transparency and improved public service delivery. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)