- December 16, 2022
- Posted by: sibservices
- Category: Uncategorized
S&IB has long since established a strong relationship with banks and other financial institutions
with a range of exclusive banking services. Every year, the services are updated to provide
sustainable relationships to them. Cash Management Services for instance is one such
service that has helped in strengthening our offerings.
Let’s take a detailed look at our comprehensive range of offerings
In the banking services and financial domain, we provide the following services:
● Full fledged money changer – License Issued by Reserve Bank of India as per Foreign Exchange
Management Act, 1999 under AD-II Category. License For Foreign Currency Supply as
● Fresh currency and coin remittance from Reserve Bank of India and Mint – to and fro pan-India
● Reserve Bank of India (RBI) cash & coins transportation containers
● ATM Cash Management Services with first level and second level maintenance
● Cash processing in own and bank premises
● Letting out cash sorting Machines including installation to various banks
● Cash vaulting facility for different banks as per RBI guidelines
● Cheque clearing & encoding and retail banking services outsourced to banks
● Doorstep banking support for different banks
● Robust software support for real time 24×7 monitoring
● Administration and management of provident fund trust
● Corporate advisory service
● TDS & GST compliance of various companies
Why Credible Banking Services Are A Necessity?
S&IB takes pride in providing credible and trustworthy services to banks and other financial institutions.
For smooth inflow and outflow of funds, the foremost requirement is an efficient system. The incoming
money from the customers at a bank are properly received and kept safe. The money is then turned into
receivable solutions that accounts for streamlined collection, outlay, payables and receivables. Cash
Management Services primarily encompasses all these and more.
Understanding transactions: Cash pick-up and more:
S&IB makes use of the latest technology and surveillance system for sorting through and handling large
sums of cash.We have 3240 employees engaged with our financial & technical tasks. Dedicated
transportation and logistics support are provided for cash pick-ups and transits. Replenishing cash in
ATMs and ATM cash management services are our forte.
Here’s a list of FAQs to help you better understand our services:
1. What are cash management services?
For efficient cash flow, banks offer a wide variety of services. Our bouquet of services
ensure the cash flow management of banks and other businesses remains intact. All
these include paying vendors, employees, investors on your behalf. The processes can
be carried out through QR codes, Mobile, debit cards etc. A proper system needs to be
maintained with a dedicated team for it.
2. What are the 5 most important banking services?
There are many essential services, however the 5 most important being are:
Wealth Management, Deposit Facilities, Credit Facilities, Investment Banking, and
Currency Exchange. Banks are the go-to safe financial institutions for a majority of the
Indian population. All the aforementioned services make them multi-purpose and
credible when it comes to providing financial products and services.
3. How does cash pickup work?
With the aid of modern technology, a receiver of a financial transaction can avail the
monetary funds without being physically present at the location. The process is
completely automated, safe and legit. This also makes the transaction of funds a
seamless process that can be conveniently done without any hassles. The procedure
requires a secure gateway and technology.
4. What is ATM cash management?
Banks outsource third party service providers like S&IB to collect, and manage cash
from ATMs on their behalf. Cash automation processes help in streamlining the cash
flow and supply chain. Maximizing cash volume is one of the crucial tasks when it comes
to managing cash in ATMs. With the help of technology, all the current status can also
be monitored in real-time now.
5. What are the names of the companies where S&IB is a member?
S&IB is the member of CII, CAPSI, FICCI, BCCI, Indian Banks’ Association, AHPI,