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1. SBI PO
COACHING
BANKING AWARENESS BY
LEEPE TUTORIALS
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2. BANKING AWARENESS IS AN IMPORTANT PART OF
THE SBI PO EXAM. TODAY WE WILL TALK ABOUT
“ATMs”.
BANKING AWARENESS-ATM
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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 1990’s. This has helped to introduce ATMs.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

4. 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
account’s 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

5. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

6. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

7. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

8. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

9. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

10. 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.
Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials

11. Study Material SCO-37, Top Floor, Sector-23/C Chandigarh Leepe Tutorials
For Know more about banking
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