Technology Used in ATMs Banking Awareness Material � IBPS SBI RRB

Posted by: admin October 17, 2013 in Online Aptitude Test Comments Off

downloadWelcome to edugeeks.in. Banking awareness material on Technology used in

Automated Teller Machine (ATM). Nowadays ATMs are playing a vital role in banking
sector, for easy accessing the account from anywhere in the world. One should
possess good knowledge on this working and technologies used in ATMs for Banking
Awareness for IBPS SBI RRB bank exams. This Material on Technology Used in ATMs are
designed with the information about the technology, operating systems, connection
mode and OSI layers used in Automated Teller Machine (ATM). Candidates who are
writing IBPS SBI RRB bank exams are recommended to study this material. Good number
of questions will be asked on Technology Used in ATMs. All Banking Awareness
Materials for Online Bank Exams are designed here exclusively for bank aspirants.
Study all Banking Awareness Materials and practice our Online Bank Exams to enhance
your knowledge and confidence. Materials on Computer Awareness and Current Affairs
are also provided here for IBPS SBI RRB bank exams. Go through the materials and
online tests with confidence all the best.
Automated Teller Machine (ATM)

Automated Teller Machine (ATM) is a computerized machine that provides the

customers the facility of checking balance, withdrawing and transferring the funds
without visiting the branch of the bank
Important Points to Remember:

Technology Used: Broadband Integrated Service Digital network (BISDN)

Operating systems used in ATMs Primarily: Windows XP Professional and Windows XP
Embedded
Communication Mode: Both Data and Voice
Operates on: layer 2 in OSI Model (Data Link Layer)
Connection Mode: Point-to-Point
Size of ATM Cells: 53 Bytes (48 bytes of data and 5 bytes of header information)

Facilities available at ATMs

Account Information
Cash Deposit
Regular bills payment
Purchase of Re-load Vouchers for Mobiles
Mini/Short Statement
Loan account enquiry
There are two types of cards supported by ATM
ATM Debit Card
Credit Card
ATM Debit Card:

ATM Debit Card is card given by bank to access your account easily using a machine
called Automated Teller Machine (ATM). Debit cards can be used for shopping
purposes, without carrying the money. You can use Debit cards while purchasing, but
you must have money in your account. Purchased amount will be deducted immediately
from your account.
Advantages:
No need to carry money with you
You can use it for shopping purpose
No need of filling withdrawal and deposit slips
Money Security: No one can access it without knowing PIN Number
You can access your account from any corner of the world, no need to visit bank
branch
Availability (24*7 Services)
Disadvantages:
Sometimes you may face Server-Down Problem
Forgetting of Pin Number
Fees charged for using card in different bank may be expensive
Limitation of cash withdrawal
Credit Card:

Credit card is different from debit card, in debit card you must have money for
using it. But for using credit cards, its not necessary. If you use credit card for
purchasing purposes it does not deduct your money immediately.
Bank will pay the vendors and sends the bill to the customer every month.

NEFT, RTGS & IFSC Banking Awareness Material for IBPS/SBI Po & Clerks
Posted by: admin October 17, 2013 in Online Aptitude Test Comments Off

NEFT & RTGS Banking Awareness Material for IBPS/SBI Po & Clerks. This material is
designed with NEFT, RTGS and IFSC topics, many bank organizations are asking
questions form this section for IBPS/SBI Po & Clerks. Main aim of asking this type
of questions in Banking Awareness is to test the candidate�s knowledge regarding
this fund transfer system in India through banking channel. Nowadays this NEFT &
RTGS Banking Material is not only useful for IBPS/SBI Po & Clerks, everyone should
possess knowledge on this fund transfer systems in banking. By possessing good
knowledge on NEFT, RTGS and IFS code one can make transactions easily from home and
work place. Hence bank aspirants who are attending IBPS/SBI Po & Clerk bank exams
are recommended to study this NEFT & RTGS Banking Material, good number of
questions will be asked from this NEFT & RTGS Banking Awareness section. To make
your preparation easy all Banking Awareness Materials are designed here exclusively
for you. Study our banking materials and practice our online bank exams to grab
confidence for your IBPS/SBI Po & Clerk bank exams. Materials on Computer
Awareness, Reasoning and Current affairs are also provided for IBPS/SBI Po & Clerk
bank exams. All the Best
FUND TRANSFER SYSTEMS

There are two ways for transferring funds

RTGS (Real Time Gross Settlement)
NEFT (National Electronic Fund Transfer)
Real Time Gross Settlement (RTGS)

RTGS is one of the fastest mode of fund transfer in India through banking channel
RTGS is nothing but transferring of money in real time on gross basis from one bank
to other without netting. This RTGS is mainly used for large transactions, Minimum
amount to be remitted through this RTGS is 2 Lakhs and there is no any upper limit
Through RTGS system, money will be remitted for beneficiary account within 2 hours
of receiving the fund transfer message
Main advantage of fund transferring through RTGS is remitting bank will receive
the conformation message from RBI that money have been transferred to beneficiary�s
account
Timings for Transferring Funds through RTGS:

Normal Days: 09:00 hours to 16:30 hours

Week Days: 09:00 hours to 14:00 hours
Processing/Service Charges for RTGS Fund Transfer

Inward Transactions: No Charge

Outward Transactions: Rs.2lakhs to Rs.5lakhs: Rs.30/-
Above Rs.5lakhs: Rs.55/-
Essential Information for RTGS Fund Transfer

Amount to be remitted
Remitting Customer�s account number which is to be debited
Name of the beneficiary bank and branch
Name of the beneficiary customer
Account number of the beneficiary customer
Sender to receiver information
IFSC (Indian Financial System Code) of the receiving branch
This RTGS fund transfer is not available for all branches of banks in India; one
can check the availability of RTGS system through
http://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB0112.xls.
National Electronic Fund Transfer (NEFT)

NEFT is an electronic fund transfer system on DNS (Deferred Net Settlement) basis
through netting. This NEFT will be done in 12 settlements
Timings for Transferring Funds through NEFT:
Normal Days: 08:00 am to 07:00 pm
Week Days: 08:00 am to 01:00 pm
Processing/Service Charges for NEFT Fund Transfer
Inward Transactions: No Charge
Outward Transactions:
Up to Rs.10, 000: Rs.2.50/- + Service Tax
Rs.10, 000 to RS.1lakh: Rs.5/- + Service Tax
RS.1lakh to RS.2lakhs: Rs.15/- + Service Tax
Above RS.2lakhs: Rs.25/- + Service Tax
ADVANTAGES:
Remitter need not send the cheque or DD to the beneficiary
Beneficiary need not visit the bank for depositing
Beneficiary need not to worry about the loss / theft of physical instruments
Cost effective
Credit confirmation of the remittances sent by SMS or email
Remitter can initiate the remittances from home/ place of work through Internet
Banking also
Secure
Essential Things for NEFT Fund Transfer:
Both originating and destination bank branches should be a part of the NEFT system
Name of the beneficiary bank and branch
Name of the beneficiary customer
Account number of the beneficiary customer
Account type of the beneficiary customer
IFSC (Indian Financial System Code) of the beneficiary bank
Indian Financial System Code (IFSC)

IFSC (Indian Financial System Code) is an alpha-numeric code that uniquely

identifies bank branch participating in the NEFT system.
IFSC is an 11-digit code with the first four Alpha characters representing the
bank, and the last 6 characters representing the branch. The 5th character is 0
(Zero)
a
In this IFSC code SBTR0000143, SBTR represents bank name �State Bank of
Travancore�, Last 6 digits 000143 is the branch code
USES:
Main aim of using this IFSC code is to identify the originating/destination banks
and branches and also to route the messages to the concerned banks/branches
appropriately