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IDBI
Bank announces better cash management facilities
Our Banking Bureau
13 January 2003
 Chennai:
IDBI Bank has announced the launch of the ‘disbursement
module’ of its ‘cash management services,’
which, according to the bank, offers additional features
to its corporate customers.
The bank is in
a position to print instruments such as cheques, demand
drafts (DD) and pay orders on behalf of its corporate
customers, capture the signatures on the instruments and
deliver them to the beneficiaries, either electronically
or physically.
The bank can also
issue these instruments for its partner banks. For example,
a corporate customer can have a DD printed on a nationalised
bank’s stationery at IDBI Bank, provided the nationalised
bank is a ‘partner bank’ of IDBI Bank.
 Says
IDBI Bank head (CMS and corporate liabilities) Nirmal
Khaderia: The ‘insta pay’ facility, which is
a part of the solution, facilitates instant payouts at
multiple locations against a central payment instruction.
Since the issuance is immediate, corporate funds need
not get blocked in advance.”
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