Facebook And Google Will Be Able To Earn Income, Bus Will Have To Take Two Days Training … | EDU SATHI

Friday, 3 November 2017

Facebook And Google Will Be Able To Earn Income, Bus Will Have To Take Two Days Training …

History: It is difficult to say about its inventer.In USA Luther George Simjian invented cash dispensing machine and he patented it on 30 June 1960. In Japan the device was first used in 1966. The first ATM was installed by Barclays Bank in Enfield town in North London on 27 June 1967. In USA the first ATM was installed by Chemical Bank in Newyork at its Rockville Centre. In India first ATM was installed by City Bank in Bangalore in the late 1980s.

Explanation: In India the private bank like ICICI BANK and HDFC BANK took the challenge to implement ATM concept. These two banks are the pioneer of conveying the concept in the public. After that nationalise bank started to follow ATM banking. And the largest bank STATE BANK OF INDIA at this time has biggest numbers of ATM in India. At early stages in India ATM were attached with specific branch but later it came out of this conservative approach. Reserve Bank O India encouraged banks to install ATM machines to propagate banking habits.
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