UCO Bank as a unique initiative launched a technology enabled new product “Pre-Funded Cheque” in Jalandhar. At the time of launching the product R K Mittal, Zonal Manager of the bank informed that the new product is going to benefit the customers a long way, who were desirous of having “Order Cheques” having adequate back up funds.
Mittal said the "Pre Funded Cheques" are secured against the dishonor of cheque on account of insufficiency of funds as back up funds are arranged at the time of issuance itself. He added that through new product interest can be earned on the funds kept in the savings bank account and will also help in saving on commission which is normally charged on the issuance of the Demand Drafts, Traveler Cheques or Gift cheques.
He told that the Pre Funded Cheques will be issued in three pre-determined denominations of Rs 1000, Rs 5000 and Rs 10000 in cheque books which will have multi-colored cheque leaves and the cheque books can be obtained on payment of very nominal charges.
He said initially the new product will be introduced at 261 selected CBS branches of the bank and it is expected that the new product will help in increasing its savings bank deposits and current deposits through aggressive marketing of pre funded cheques.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment