SBI PO 2014

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SBI PO COACHING
BANKING AWARENESS BY LEEPE TUTORIALS
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2
BANKING AWARENESS-ATM
BANKING AWARENESS IS AN IMPORTANT PART OF THE SBI
PO EXAM. TODAY WE WILL TALK ABOUT ATMs.
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3
AUTOMATED TELLER MACHINE-ATM

• An electronic banking outlet, which allows
  customers to complete basic transaction,
  withdrawal of money, depositing money and
  checking of ones own balances etc. Without the
  aid of a branch representative or teller.

• Electronic banking i.e., computerization of
  banking operations in India has picked up during
  the second half of 1990s. This has helped to
  introduce ATMs.

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TYPES OF ATMs

• There are two primary types of ATMs. The basic
  units allow the customer to only withdraw cash
  and receive a report of the accounts balance.

• The more complex machines will accept deposits,
  facilitate credit card payments and account
  information. To access the advanced features of
  the complex units, you will usually need to be a
  member of the bank that operates the machine.

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ATM cards

• ATM does most of the functions of cashier in the
  bank. ATM is operated by plastic card issued by
  the bank which is called as ATM Card, with its
  special features. This plastic ATM Card is
  replacing cheque, personal attendance of the
  customer, banking hours and bank holidays
  restriction and paper based verification.

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USAGE IN INDIA

• According to a 2006 survey by Banknet India, 95
  people now prefer this modern channel to
  traditional mode of banking. Almost 60 people
  use an ATM at least once a week. Increased ATM
  usage is also helped by the fact that customers
  have now the flexibility of using ATMs of other
  banks, as most of the banks are part of major
  interbank networks like National Financial Switch
  (NFS), Mitr, BANCS, Cash tree and Cashnet.

• Number of ATMs installed in the country grew by
  almost 20, from 17,642 last year, to more than
  21,000 by march 2006. Wide acceptance of ATMs by
  consumers, introduction of biometric ATMs, and
  various value-added ATM services will maintain
  growth in the industry.

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ADVANTAGES OF ATM
1. Round the Clock Services ATM provides banking
services to its customers round the clock, 24
hours a day, 7 day a week and 365 days a year.
2. Access to bank from any part of the world
Essential banking services like deposits,
withdrawals transfer of funds, etc. can be
accessed by customers from any part of the world.
3. Expansion of Services to any corner of the
world Of the Banks can expand their services to
any corner of the world by providing electronics
access to its customers.
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4. Reduction in cost of operation This reduces
human intervention and thereby reduces the cost
of operations and increases profitability of
banks.
5. For Shopping Purpose Now days almost every
shopping mall, restaurant and other organizations
are accepting credit card payments.
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DISADVANTAGES OF ATM
1. Cannot be provided in rural areas In India,
where banks have large number or rural and non-
computerized branches, ATM services cannot be
provided efficiently.
2. Presence various constraints Even if banks
make some efforts to introduce ATM services
country side, various constraints like
illiteracy, security concern, etc. , may not
permit that.
3. Limitation of cash withdrawals Again there
is a limitation of cash withdrawals from ATM. For
example, many banks do not permit withdrawal of
more than 25,000 at a time.
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4. Cash deposit facility is not safe Similarly
cash deposit facility is restricted and not safe
as dropping of envelope with can in ATM is not
advisable.
5. Possibility of misusing ATM card ATM card, if
misplaced, lost or stolen, may be misused. There
are number of such reported incidences now days.
6. Loss of personnel touch with the Banks Last
but not least, customers lose personal touch with
their bankers.
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For Know more about banking
Visit Us
http//leepe.in/
Leepe Tutorials
SCO -37, Top Floor Sector-23/C Chandigarh
Call Us
918054071123 0172-5012596
Study Material SCO-37, Top Floor, Sector-23/C
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