The document discusses the history and features of automatic teller machines (ATMs). It begins by explaining how ATMs provide convenient banking access for customers 24/7. It then describes the basic functions of an ATM and how customers can deposit, withdraw, and check balances without bank employees. The document outlines the origins of the first ATM in the 1960s and its growth. It also covers the types of ATMs, how to use an ATM, the advantages and disadvantages, and newer technologies like biometric authentication and real-time gross settlement systems.
Studied the objectives,code of bank’s commitment to customers, The micro.small and medium enterprises development act 2006,code of bank’s commitment to MSEs and banking ombudsman
Delivery Channels and Inter Bank Payment System, E-Payments, Types of Electronic Fund Transfer system, Real Time Gross Settlement,National Electronics Funds Transfer ,Immediate Payment Service, Credit Card, Automatic Teller Machine, Smart Card, E-Money, E- Wallet, E-Cheque
Studied the objectives,code of bank’s commitment to customers, The micro.small and medium enterprises development act 2006,code of bank’s commitment to MSEs and banking ombudsman
Delivery Channels and Inter Bank Payment System, E-Payments, Types of Electronic Fund Transfer system, Real Time Gross Settlement,National Electronics Funds Transfer ,Immediate Payment Service, Credit Card, Automatic Teller Machine, Smart Card, E-Money, E- Wallet, E-Cheque
Payment and Settlement Systems Act, 2007 provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India (Reserve Bank) as the authority for that purpose and all related matters.
The PSS Act, 2007 received the assent of the President on 20th December 2007 and it came into force with effect from 12th August 2008.
The Act also provides the legal basis for “netting” and “settlement finality”.
According to a survey, the ratio of e-payments to paper based transactions has considerably increased between 2004 and 2008.
For quick service click: https://enterslice.com/payments-banks-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
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The money transaction most for used an ATMs and credit cards.
The authentication of these transactions are unsecure
Author proposes the idea of using fingerprints
customers as password in place of traditional pin number
A reference fingerprint of the nominee for close family member of the customer
Payment and Settlement Systems Act, 2007 provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India (Reserve Bank) as the authority for that purpose and all related matters.
The PSS Act, 2007 received the assent of the President on 20th December 2007 and it came into force with effect from 12th August 2008.
The Act also provides the legal basis for “netting” and “settlement finality”.
According to a survey, the ratio of e-payments to paper based transactions has considerably increased between 2004 and 2008.
For quick service click: https://enterslice.com/payments-banks-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
Email: info@enterslice.com
Website: www.enterslice.com
The money transaction most for used an ATMs and credit cards.
The authentication of these transactions are unsecure
Author proposes the idea of using fingerprints
customers as password in place of traditional pin number
A reference fingerprint of the nominee for close family member of the customer
Concepts in Banking and Accounting of transactions: Accounting in banks, Electronic Banking, RTGS, ATM, MICR,
OCR, OMR, and DATANET, Petty Cash, Electronic Clearing Service (ECS), National Electronic Funds Transfer (NEFT) System,
Real Time Gross Settlement (RTGS) System, IMPS.
Study on social media and its significant roleAniketPujari
Paper presentation on Study on social media and its significant role. (National Seminar on Business Dimensions in Digital Era - Challenges and Opportunities, DSBS, Bangalore)
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
2. INTRODUCTION
Now a days, customer demand for
quick & instant service which will be
time reducing & convenient banking
rather than waiting in queue at various
cash counters at the branch.
ATM i.e Automated Teller Machine is
the part of recent technology. This
makes banking business available for 24
hours on nonstop service basis for 365
days a year. Hence the ATM cards are
new product of banking business.
3. What Is ATM ?
It is a machine that enables a bank’s
customer to deposit money in a bank,
withdraw it, transfer it, & check the debit in
one’s account accurately without the help
of bank employees. For this, the bank gives
the customer an ATM card. The ATM
machine is placed in small room &
functions with the help of computer
network to which is connected.
4. HISTORY
An American named Don Wetzel who introduced the concept of ATM was a planning vice
president of Docutel Co. By his personal comments of facing problems of facing problems with
transactions, he thought about a machine which can make transaction easy. Tom Bernes, a mech.
Engineer of the same co. & George Chastain an electrical engineer joined their hands with
Wetzel. From 1968 with 20 people in constant research finally in 1973 Docutel co. obtained the
patent for ATM.
The problem was, no bank was interested to approach this new machine to avoid abnormal
risks. With the help of some students Wetzel conducted a survey to find out the interested
people to do monetary transactions by using a machine & who are against for this technical
introduction. Youngers supported positively. There was no problem to produce ATM cards, as the
people were already familiar with Credit Cards in America. The problem is to fit magnetic strips
with personal ID numbers. Wetzel & his team then invented this facility by which, all information
of bank account holder will be imported through card in to computerised machine.
The first ATM was installed in American Chemical Bank. Till 1979 the machine is only for
withdraw the cash & only for trustworthy customers which changed after 1979 by modifying the
same.
According to ATM system, the customer can get the money any time, deposit & can check the
balance in his account any time. The extensive network of ATM functions through a Financial
Transaction Switch (FTS). This switch is the nerve centre of all ATM transactions.
7. 1. On site ATMs
An ATM installed at the bank premises for
the customer of the specified branch.
8. 2. Off site ATM
Installed by the bank at important places like
Railway Stations, Bus Stand, Supermarkets,
Airports etc. but only when branches of other
banks are interconnected.
9. Steps to use ATM -
Insert your ATM card at the space provided for that purpose.
Type your ATM secret pin using the keyboard provided.
Immediately the menu with various options appears on the monitor.
Henceforth you have to otherwise press the button of respective option.
TOUCH THE MONITOR WITH YOUR FINGER at various options.
Touch the required option on monitor.
When you choose withdraw, the display will appear with the words – Please
Enter Amount. Then enter the amount & press OK.
After processing the instructions, ATM will deliver currency notes at the
place provided at the machine. Take the cash & printed receipt.
Limitations of withdraw are applicable as per type of Account.
18. 9. Provides – funds
transfer, request for a
cheque book, a
statement of account,
stop payment of
cheque etc.
19. DISADVANT
AGES1. To operate the account is not possible
to illiterate person.
2. Customers below 14 years are not
allowed.
3. More misappropriation, i.e, if the code
of the customer know by others, in
such case others can draw the money
belonging to other customers.
4. Limitations for withdrawals. (Limit is
20,000 per day for saving account)
20. GREEN CHANNEL COUNTER
OR
PAPERLESS BANKING, SBI’S
NEW MANTRA
The State Bank of India the
country’s largest public sector
bank started a silent revolution
to save the environment by
launching GREEN BANKING. This
is aimed at completely paperless
banking. Customers need not fill
in paper forms to deposit,
withdraw, or transfer their
money under the latest facility.
What they have to do is simply
swipe their ATM card in the GCC
machine. This not saves only
time of customer, but also saves
paper produced by using valuable
trees.
21. BIOMETRIC ATMS FOR
RURAL INDIA
These ATMs are used by illiterate people for withdrawals
based on identification of finger printing & voice. To
boost micro financing initiatives, banks are deploying
biometric solutions with ATMs. Establishing the identity
of a rural depositor through biometrics makes it possible
for illiterate or barely literate folks to become part of the
banking user community. In view of the rapidly
increasing applications, the scope of biometrics is also
increasing, be it identifications via face, voice, retina
or iris. Fingerprinting however, has the advantage of
being a familiar concept worldwide. Some indian
banks have started implementing biometric applications
in retail branch applications for officer authentication. It
is based on non-card generation of transaction but
required user’s fingerprint. So far bank ATMs are
dependent on PIN verification. The fingerprint
authentication method is non PIN based & this requires
enhancements to the standard switch environment.
22. Securing Transactions
with Fingerprints :
With the development of biometric solutions for the ATMs there
is no need to remember PIN numbers. It is specially for rural
people to make use of fingerprint for easiest transactions.
Fingerprints of account holders are captured through the scanner
in the system at the time of accounts opening. A template is
created for each fingerprint by extracting features & stored in the
debit card against the unique customer ID. During verification, the
fingerprint is captured using a fingerprint scanner attached to the
ATM & upon a successful match, the user is allowed to perform
further transactions. These ATMs are having highest quality of
fingerprint, voice, & face detection which is approved by FBI.
23. Benefits of Biometric Supported
ATMs –
Provides strong authentication.
Can be used instead of a PIN.
Hidden costs of ATM card management like card
personalisation, delivery, management, re-issuance, PIN
generation, help desk & re-issuence can be avoided.
Ideal for Indian Rural Masses
Accurate
Flexible account access allows clients to access their
accounts at their convenience.
Low operational cost.
24. How It Works?
The Biometric ATM solution consist of a central server
which holds a repository of customer fingerprints. The
central server solution is a platform independent, it uses
java & can run on Unix & Oracle/Microsoft SQL server,
customisation to BASE switch (of which FSS is the
distributor) is done using TAL. Biometric app. & devices
from Secugen are used for customer interface &
application development.
25. Real Time Gross
Settlement (RTGS)
These systems are the funds transfer mechanism where transfer of money
takes place from one bank to another on a “real time” & on “gross” basis.
Settlement in “real time” means payment transaction is not subjected to any
waiting period. The transactions are settled as soon as they are processed.
“Gross settlement” means the transaction is settled on one to one basis
without bunching with any other transaction. Once processed, payments are
final & irrevocable.
The work of the committee on payment & settlement systems of the
central banks of the group of 10 countries (CPSS) has consistently emphasised
the importance of large value funds transfer systems which banks use to
settle interbank transfer for their own account as well as for their customers.
Estimates complied by the CPSS indicate that these systems transfer several
trillion dollars per day in the G-10 countries, a large portion of which is
related to the settlement of financial market transactions. It is nothing but a
part of Foreign Exchange.
26. Meaning Of RTGS
– The continuous settlement of payments on
an individual order basis without netting debits
with credits across the books of a central bank.
According to Investopedia, Basically, this is a
system for large value interbank funds transfer.
This system lessens settlement risk because
interbank settlement happens throught the
day, rather that just at the end of the day.
28. ONLINE BANKING
It refers to the use of today’s
Computer Technology to avoid the
time consuming, paper based aspects
of traditional banking, in order to
manage our finances more quickly &
efficiently.
29. TELE BANKING
Introduction – This is a new E-Banking product. However it is becoming
fast & one of the most popular products. Customer can perform a
number of transactions from the convenience of their own home or office
& infact from any where they have access to a phone.
Meaning – This system is based on GLOBAL system across the world. It is
available with the help of “Voice Response System.” This system accepts
TUNE dialled input & Suitable voice response messages to caller.
Under this system, a secret code number is provided to each
account holder. A Customer wanting to know his bank balance or any
other info. Relating to his bank account should dial up a particular phone
number indicated by the bank. When the number is dialled, a recorded
voice (IVR) will ask you to identify yourself with your account number &
code number. If the numbers are tallied, (or matched) you will get all the
info. You want to know about your account.
30. ADVANTAGES
1. Global system across the word
2. Online feature of changing existing customer password with the one now
desired.
3. Information service
4. Rate of cheque encashed, not presented, stop payment.
5. VRS – Voice Response System.
6. Password for security & protection.
7. Speaking out last five transactions.
8. Info. About latest rate of interest.
9. Info. About various new schemes in bank for deposits of advance.
10. Info. About sanctioned limit & drawing limit of an advances, etc.
11. Requisition of cheque books & statement of account by customer can be
placed on telephone.
12. Instead of 8 hours in all 6 days, now services can be sought for all the 7
days throughout 24 hours (24 x 7)
31. DISADVANTAGES
1. No facility of withdraw.
2. Impossible to operate by illiterate persons.
3. Delay working due to technical issues.
32. COMPUTERISATION IN BANKS
Advantages –
1. Helps for speedy & better service.
2. Helps for Change in work culture.
3. Helps for maintaining Up-to-date accounts.
4. It helps for effective management info. system.
5. Helps for facing competition
33. Limitations –
• Opposition from employee’s unions.
• Lack of personal touch
• Heavy capital expenditure.
• Lack of qualified staff.
34. Difficulties –
Not-availability of experts within the
banks.
Changing technology
Estimation of work load
Un-realistic time schedules
Lack of computer culture.
Lack of infrastructural facilities.
35.
36. It means Electronic Banking. It means
all the transactions are carried through
electronic media.
It refers to linking all the
dealings of the bank through computers
or internet. Introduction of E-Banking
has brought remarkable changes in info.
technology.
When the delivery of bank’s
services to a customer at his office or
home by using electronic technology is
37. Points Traditional Banking E-Banking
1. Time
1. Art or Science
1. Cost of Service
1. Bank Building
1. Places for
transactions
Conducted only during the
specified time i.e. business
hours & business days.
Just an art.
Costly
Essential in doing banking
business.
Branch of the bank
Available round the clock for 24
hours x 7 Days.
More science than an art as it is
knowledge based & mostly
scientific.
Cheaper
No bank building is required.
Website is essential.
Anywhere using electronic
devices like PCs & Internet valid
phones
Difference Between Traditional Banking & Electronic
Banking-
38. FACILITIES OF E-BANKING
1. Account can be opened in any branch of bank throughout the world.
2. Shifting of accounts through Internet.
3. Withdrawal of Money.
4. Deposit of money.
5. Branches will render state of the art services in a high environment.
6. The bank aims to widen its clientele base with particular focus on tech
savvy younger generation customers.
7. Single window facility for all transactions.
8. Remote login facility.
9. The minimum deposit (SB – 1000 & CA – 5000)
10.Service charges are reliable.
11.Not related with working hours.
12.Sweep out , Sweep in facility.
13.Automatic overdraft facility.
39. ADVATANGES
To the customers –
1. Open the account any where i.e. anywhere banking.
2. Fund transfer
3. Convenience
4. Any time banking
5. Reduce the costs of banking
6. Cash withdrawal
7. Customer can submit – Stop Payment of cheque, Cheque book
replacement, DD/PO, Opening a final deposit account.
8. Purchase of goods with same amount but in Cashless method.
9. Electronic shopping mail
10. Helps for effective personal investments.
11. Helps for payment of bills.
40. To the Banks.
1. Innovative
2. Economy
3. Reducing of fraud & misappropriation.
4. Marketing tool indeed
5. Helps to provide competitive advantage to the bank.
6. Provides the cash anywhere with the help of ATMs on road sides
7. Helps to maintain better customer relationship.
8. Provides mobilized banking.
9. Reduce the load of braches.
10. Helps to maintain cordial relationship.
41. To Traders –
1. Helps to increase the business.
2. Reduction of credit sale to customers.
3. Helps for globalising the trade.
4. Helps to immediate settlement/payments.
5. Reduces the risk of cash handling.
42. To the Govt. –
1. Provides global market to national
products & services.
2. Promotes the exports & increase of inflow
of foreign exchange.
3. Globalisation of trade through e-
commerce.
4. Reduces the risk of cash handling.
43. To the Bank Employees –
Helps to avoid the make use of paper like DD
forms, Books etc.
44. Other Benefits –
Convenience
Safety
Economy-banking without visiting your
bank
Cheaper service fees
Easy customisation
Lower costs of both installation &
maintenance.
45. Disadvantages of E-
Banking –
1. Abuse of bank cards by
fraudsters.
2. Danger of giving your card
number when buying on line.
46. FEATURES OF E-BANKING
1. Introduction of magnetic Ink Character Recognisation (MICR)
2. EFT system
3. Cheque Truncation Technology
4. Personal computer power.
5. 24 x 7 Banking
6. Interactive Voice Response System
7. Insurance products, share dealings.
8. Credit sales, direct debits, televised or computerised retail
sales.
9. Development of plastic cards.
47. MAGNETIC INK CHARACTER
RECOGNISATION
(MICR)
Technique to automatic labour intensive business of clearing
cheques.
It is new technology which has been introduced by the RBI for
speedy clearing process. The scheme has been initially
introduced in four metropolitan cities like – Delhi, Chennai,
Kolkata, Mumbai. Now it is available for all Big Cities.
48.
49. FORMS OF E- BANKING
1. ATM
2. Online Banking
3. EFT
4. PC Banking
5. Internet Banking
6. Telephone Banking
7. Banker’s Automated Clearing System (BACS)
8. Clearing House Automated Payments System (CHAPS)
9. Society for world wide inter banking fast transfer (SWIFT)
10.Cash management Service
11.Smart Cards
12.Electronic Clearing Services
13.Electronic Data Interchange (EDI)
14.Credit Cards
15.Debit Cards