ATM Types — Set 2
Banking · ATM के प्रकार · Questions 11–20 of 50
Which of the following is a common feature of all White Label ATMs?
Correct Answer: B. They are owned by non-bank entities
The defining characteristic of White Label ATMs is their ownership by non-banking financial companies. They operate like a normal ATM and accept cards from all banks. This model helps in reducing the operational burden on traditional banks.
Which ATM type is designed to be moved to different locations to serve crowds during festivals or events?
Correct Answer: D. Mobile ATM
Mobile ATMs are teller machines installed on a van or a moving vehicle that travels to different locations. They are highly useful for providing temporary banking services at fairs, disasters, or remote areas. This ensures that banking reaches people where permanent infrastructure is unavailable.
ATMs installed specifically within a company's office premises for its employees are called?
Correct Answer: B. Worksite ATMs
Worksite ATMs are located inside a large office building or industrial campus exclusively for the people working there. They save time for employees and provide a secure environment for transactions. These are usually categorized under off-site deployment.
What is the minimum net worth required for a non-bank entity to operate White Label ATMs in India?
Correct Answer: C. Rs. 100 Crore
An entity must have a minimum net worth of Rs. 100 crore to be eligible for a White Label ATM license from the RBI. This financial requirement ensures that the operator has the capacity to sustain and secure the operations. The rules were established to protect the interests of the transacting public.
Which of the following is responsible for resolving disputes related to failed transactions at a White Label ATM?
Correct Answer: C. The Issuer Bank (Cardholder's Bank)
In any ATM transaction dispute, the primary point of contact is always the cardholder's own bank (Issuer Bank). The Issuer Bank coordinates with the WLA operator and the settlement agency to resolve the issue. This standard procedure is part of the RBI's customer protection guidelines.
Which network facilitates the inter-connectivity of all ATMs in India?
Correct Answer: C. National Financial Switch (NFS)
National Financial Switch (NFS) is the largest network of shared Automated Teller Machines in India. It was developed by IDRBT and is currently managed by the NPCI. It allows a customer of one bank to use the ATM of another bank seamlessly.
The first ATM in the world was installed in which city in 1967?
Correct Answer: B. London
Barclays Bank installed the world's first ATM in Enfield, London, on June 27, 1967. It was designed by John Shepherd-Barron. At that time, it used paper vouchers instead of plastic cards.
Which bank installed the first ATM in India in 1987?
Correct Answer: D. HSBC
HSBC (Hongkong and Shanghai Banking Corporation) introduced the first ATM in India at its Mumbai branch in 1987. This event marked the beginning of automated banking in the country. Since then, the network has grown to include lakhs of machines nationwide.
What is the maximum number of free monthly transactions allowed at other bank ATMs as per current standard RBI guidelines?
Correct Answer: C. 3 in Metro, 5 in Non-Metro
RBI mandates that banks provide at least 3 free transactions in 6 metro cities and 5 in non-metro areas. These metro cities include Mumbai, New Delhi, Chennai, Kolkata, Bengaluru, and Hyderabad. Beyond these limits, banks are permitted to charge a nominal fee per transaction.
The term 'Biometric ATM' refers to a machine that uses which of the following for identification?
Correct Answer: C. Iris scan or fingerprints
Biometric ATMs use biological markers like fingerprints or iris scans to verify the identity of the customer. They are particularly useful for illiterate or rural populations who may struggle to remember PINS. This technology adds an extra layer of security against card skimming.