Daijiworld Media Network – Mangalore (GA)

Mangalore, Mar 19: Karnataka bank installed a coin-vending machine at its Kodialbail branch on Wednesday March 19.  With this the Bank becomes the first private sector Bank in South India to install the coin-vending machine. This is in pursuance of the measures initiated by the Reserve Bank of India to ensure that adequate number of banknotes and coins are put in circulation so as to cater to the needs of people over a huge geographical area.

Speaking on the occasion, Ananthakrishna, chairman, gave a brief account of the bouquet of technology-backed services being rendered by the Bank from time to time keeping in view the benefits accruing therefrom. The Bank has over 130 ATMs of its own across the country to make ‘any-time-banking’ a reality. However, ATMs do not facilitate disbursement of coins. This is taken care of by coin-vending machine. The cost of the machine is nearly 3.50 lac.  He appealed to the public to make use of the coin-vending machine, installed on experimental basis, to meet their requirement reasonably well. The service is available free of cost. The Bank plans to extend the facility to other branches in and out of city. The installation of the coin dispensing machines not only facilitates easy distribution of coins to members of public but also reduces manual handling of coins.

Ananthakrishna inaugurating the coin-vending machine.  Sarvashri G K Bhat, K H Shivaswamy Aithal, P Jairam Hande (general managers), V M Samga, deputy general manager, Jagadish Moleyar, assistant general manager, Mangalore Region, Renuka N Bangera, Senior Branch Manager and P R Karanth, general secretary, Karnataka Bank Employees’ Association are also seen

Jagadish Moleyar, assistant general manager, Mangalore Region welcomed the gathering. Renuka N Bangera, senior branch manager, Kodialbail branch proposed the vote of thanks.

Senior Executives from head office, Mangalore Regional head and local branch heads were present on the occasion. Shaila compered the programme.