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Technology in Banks


  • ATM's (Automated Teller Machines)- These are the machine, operated by the specified plastic card with the help of PIN (Personal Identification Number) such as, ATM Card, Debit Card, Credit Card. ATM's can be used for cash withdrawl and other banking transactions such as money for transfer, balance enquiry, utility bill payments and limited statement facility etc.
  • Bio-Metric ATM- These are the ATM's which are logged in by the bio-metric measures like Retina image, Palm impression, Finger prints and can be operated with the voice command. A 'Talking' ATM with a headphone attached to it was launched on 6th, june, 2012 at Blind Peoples Association (BPA) Campus in Ahemadabad bu Union Bank of India.
  • Brown label ATM (BLA)- This is a new concept for manging of ATMs, where the banks are not making any expenses on purchase of ATM machines and these are hired by them. The cash management is also entrusted to the cash management service (CMS) providers.
  • Credit Card- This is a plastic card which can be used to buy goods or services, and for cash withdrawls from ATM's.
  • CTS Cheques- This is an extension of MICR System which enables the customers to get multicity payable cheques and to get their cheques cleared at a shorter interval through clearing.
  • Debit card/ ATM Card/ Shopping Card- This is plastic card issued by the bank to buy goods or services by the customers and to draw cash from ATMs. A customer can utilise this card upto the balance available in their accounts.
  • Electronic Banking- Banking facilities availed by the customers, through electronic means like internet and landline or mobile phone.
  • MICR Cheques (Magnetic Ink Character Recognition-Cheques)- This is a special type of printing of cheques by the ink containing iron particles (red oxide) at the bottom of cheques, for easy reading of the figures by the MICR Machines for the purpose of fast and errorless clearing and sorting of cheques.
  • Mobile Bank- The facility of Banking is made available to the public through mobile vans.
  • Speed Transfers- This includes fast transfer of money from one bank account to other account maintained at other bank, through NEFT and RTGS.
  • Tele-Banking- Use of mobile or landline phones for availing banking facilities, such as balance enquiry, money transfer, and to make fix deposits in electronic form etc.
  • Travel Card- Travel card is a pre-paid foreign currency card that makes your foreign trip totally hassle-free and convenient. you can load this pre-paid card with foreign currency in India by paying in INR amount.

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