Types of ATM in India

Types of ATMs 

Introduction

Banks are the soul part of our life today like technology,mobiles, internet and no one can deny from it.Moreover,ATMs are the common product service which every individual used once a time as it works like a friend who lends us money in need.                                                          Today we get some quick knowledge upon what is Atm and what are the types of ATMs installs in our surroundings that we see but unfamiliar about it.Lets check out:-

Q.1)What is ATM? 

Ans:-ATM stands for Automatic Teller Machine.It is just like a online sevice box which is connected with your bank account from where you can withdraw money in need.                            The first ATM installed by Hongkong&Shanghai Banking Corporation(HSBC). Moreover, India's first ATM was installed at Mumbai in 1987& Maharashtra has the highest number of ATMs.In addition to ATM services SBI(State Bank of India) has the highest number of ATMs in India with 59,521installed ATMs all over India.
                           

Q.2)What are the types of ATMs and its significance?

Ans:-We all know that RBI(Reserve Bank of India)is the father of all banks.There are 6 types of ATMs which has been classified with their labels by the RBI which are listed below:-

  • White Label ATM
  • Brown Label ATM
  • Yellow Label ATM
  • Green Label ATM
  • Orange Label ATM
  • Pink Label ATM
1)White Label ATM 
These ATMs are those ATMs which are installed by NBFCs(Non-Banking Financial Companies).These financial institutions provides loans to the public but can't deposit money as the bank does.This ATMs are installed in semi-urban areas or the areas where there is a scarcity of banking services availability.Indicash is the example of White Label ATMs,as this ATM was first installed by the Tata Conpany with the prior permission letter by the RBI.These ATms generate their income by displays the adds of Banking services and charge for the transaction done by an individual from the banks.For example,You have a ATM card of SBI bank but there is no ATM service in your area of SBI bank, instead of Indicash (ATM service by Tata company),thus when you use your card for the withdrawal of money from this Indicash ATM.The company charge a fee for the transaction from the SBI Bank as a token of service.                                                                         
2)Brown-Label ATM   

  As ATMs become popular all over India when it is used as a service product by the public where there is no tension for the general public to stand in banks in a queue and waiting for the withdrawal of cash.  It flows a air of competition of installation of more and more ATMs and this leads to the introduction of  Brown Label ATMs.These ATMs are those ATMs which are owned by the third party where the third party pays the rent of the area where the ATM is installed and for the hardware used with the title of OWNERSHIP OF THE SERVICE PROVIDER.While the sponsored bank pays for the connectivity& takes the responsibility of cash handling and management and the best part of this ATMs as these ATMs became a trustworthy ATMs for the public due to its brand logo of the sponsored bank and this module tremendously results in cutting costs within bank.Kotak Mahindra bank ATMs are the best example of Brown-Label ATMs.

3)Yellow-Label ATM 

Yellow-Label ATMs are those ATMs which are available for E-commerce or in simple words,these ATMs are used for online purchases only


4)Green-Level ATM 
Green means plants and trees or related to natural vegetation.Thus,green Label ATMs are those ATMs which are available in rural areas and used for agricultural transactions only.It is acts like a online helpline for womens as in villages majority of womens there are housewives rather than working.

5)Orange Label ATM 
This ATMs are used to share transactions & are mostly available in the area surrounding with vending machines.Like in the above picture we see these ATMs in the area surrounded by vending machines and secondly there is an availability to buy digital currency or virtual money like Bitcoins. 

6)Pink-Label ATM 
We all know Pink is the favorite color of girls and women.Thus keeping in mind,pink-Label ATMs are introduced especially for womens financial safety and security,she can pay bills single handedly.



Q.3)With the advancement in technology and increase in ATMs demand in India,can you tell other ATMs used nowadays in India?

Ans:-Yes,with the advancement in technology and rapidly increase in the demand graph of ATMs in India,there are 6 more ATMs used nowadays in India which are as follows:-
  • Onsite ATM
  • Offsite ATM
  •   Worksite ATM
  • Cash-Dispenser
  • Mobile ATM
  •  Micro ATM 
1)Onsite ATM 






These are ATM machines that are set up in the premises where there is a bank branch so that both the physical branch & the ATM can be used.This is known as being onsite& this can be used for several purposes.Many people can use this to avoid the lines that are present in the branch& hence save on the time required to complete the transactions.For example in the above picture all the SBI ATMs are onsite ATMs which are installed in the bank premises.

2)Offsite ATM 

These are the ATMs which are far away from the bank and installed anywhere as a bank entity,as above we see ICICI Bank ATM which we usually see far away from the bank.

3) Worksite ATM 
Worksite ATMs are those ATMs which are installed within the organisation as with the motive of providing a quick cash availability service facility to their employees so that employees gets a reliable and trustworthy security of cash with the organisation where they get employed.Let take an assumption of Google company which is famous for its security services in financial terms nowadays,introducing Worksite ATMs for their employees so that their employees gets safer financial environment in addition a trustworthy relationship with the organisation.

4)Cash-Dispenser 

This is a type of ATM which allows only cash - withdrawals,balance enquiry and mini- statement requests and a special card is used for all this facilities.These Cash-Dispenser are built into the wall of the bank or other building.

5) Mobile-ATM 
A mobile ATM by HDFC BANK.
"Mobile"means movable,thus these ATMs which are movable from one place to another is called MOBILE ATMs.These ATMs are available in marketplace,carnivals,fairs and parade for the general public for easy assistance
 of money for purchases.

6)Micro ATMs 
A photo of Micro-ATM 

"Micro" means mini or small,thus those ATMs which are smaller in size are called Micro ATMs,these ATMs are available in malls or bigger market places where the customer swipes his debit or credit card for the purchases and the machine automatically deducted the amount from the customer bank account with a blink of an eye.With the fast popularity of cashless propoganda in India,these machines are also seen in small-kirana stores or wholesale shops.

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