Types Of ATM In India

● White-label ATMs: This type of ATM is termed to be an alternative for non bank-owned ATMs as it aims to broaden ATM
network over economically feasible locations.
● Brown-label ATMs This type of ATM are majorly not owned by any particular banks instead they are taken on
lease to facilitate the banking services seamlessly.
● Green-label ATMs They are dedicated to agricultural transactions, such as crop insurance, loans and subsidies.
Banks in rural areas set them up to cater to the needs of farmers.
● Orange-label ATMs These ATMs are used for share transactions, such as buying and selling stocks, mutual
funds, and bonds.
● Yellow-label ATMs These ATMs are provided for e-commerce purposes, such as online shopping, bill payment
and mobile recharge.
● Pink-label ATMs They are designed exclusively for women’s use only. They aim to provide safety and convenience
for women customers.
● Complex or full-service units: They offer additional features such as cash or cheque deposits, line of credit
facilities, and bill payments.
● On-site ATMs: They are located within the bank premises and provide convenience for the customers already at
the branch.
● Off-site ATMs: They are situated in several locations nationwide.
Forecasting of cash demand at ATM

Cash management is a crucial activity for any bank. Banks need to predict the customer demand for cash reasonably
accurately. For instance demand is subject to change according to period of time, position of ATM, socio-economic
features of users. In addition, the quantity of cash drawn may be differ before holidays, may also follow weekly,
monthly and annual cycles.
It has been verified by using graphs and one sample t test. After analyzing the time series data, the forecasting
model was designed that addresses the multiple seasonality and calendar day effects that are prevalent in the
demand for cash. Time series models are used to determine the demand for cash or the region and per ATM.
Factors determinants the demand of cash in ATM

Demand Depends on many factors:

1. Location
2. Urbanization
3. habits of local people
4. Nearest ATM ran out of cash
5. Festivals
6. Early days in a month
7. End days in a month.
8. If government announces any freebie for a selected days of payment
9. parking facility near the ATM.
10. Commercial complexes nearby
11. Availability of denomination. whether ATM dispense 100,500,1000 or only 500, 1000 notes
12. Dispensing New or Old currency
13. Average Queue in front of ATM.
Security Threats in E-Banking

Identity Theft
Identity theft is a cyber threat in which a hacker steals someone else’s financial or personal data and uses it for their
selfish, illicit activities. A data breach at a bank can lead to an inflammation in identity theft cases as the stolen bank data
is sold on the dark web to buyers who are willing to pay hefty amounts.

Spoofing
This is a technological cyber threat in which a hacker mimics an official banking website and then uses spoofed email to
bait victims into visiting these websites. Under some phishing pretence, the user is asked to enter their credentials in a
valid-looking form, which ultimately leads to credential theft.
The username and passwords are harvested, either to be sold, or even misused by the hackers themselves to authenticate
transactions and withdrawals.

Ransomware
In this type of cyber-attack, the hacker injects malware into a system by means of malicious payloads delivered via
phishing emails. The malware corrupts all the data on the system, can spread to other connected systems, and then lock
the user out of their own system. The hacker then demands a whole lot of money in exchange for granting access back to
the system. With ransomware, the pay-out is much more rewarding, making it a popular cyber-attack.
Business Email Compromise
Banks often send email notifications of transactions, share sensitive data with the customers over email, and use email to
communicate with other branches. If a hacker taps into this stream of communication, they can hang around silently to
identify patterns of email communication, spoof a valid email id, and then inject themselves into the
conversation. Then, they can authorize payments, redirect it to their own bank accounts and then disappear without a
trace. Phishing can lead to data theft, including a banking customer’s login credentials.

Phishing
Phishing attacks are fraudulent emails, text messages, phone calls or web sites designed to trick users into downloading
malware, sharing sensitive information or personal data (e.g., Social Security and credit card numbers, bank account
numbers, login credentials), or taking other actions that expose themselves or their organizations to cybercrime.
Successful phishing attacks often lead to identity theft, credit card fraud, ransomware attacks, data breaches, and huge
financial losses for individuals and corporations. Phishing is a type of social engineering attack and human interaction.

Social Engineering
Both Phishing and Social Engineering go on parallel notions but with different goals. Social engineering is the tactic of
manipulating, influencing, or deceiving a victim in order to gain control over a computer system, or to steal personal and
financial information. It uses psychological manipulation to trick users into making security mistakes or giving away
sensitive information.
Trojan
A Trojan Horse Virus is it is a type of malware that typically gets hidden as an attachment in an email or a free-to-download
file, then transfers onto the user’s device. Once downloaded, the malicious code will execute the task the attacker designed it
for, such as gain backdoor access to corporate systems, spy on users’ online activity, or steal sensitive data.

Unencrypted Data
This is a very basic yet crucial part of good cyber security. All data stored on computers within your financial institution
and online should be encrypted. Even if your data is stolen by hackers, it cannot be immediately used by them if it’s
encrypted – if left unencrypted, hackers can use the data right away, creating serious problems for your financial
institution.

Computer Spy Viruses

These are computer programs which are circulated through email or other means. Once a customer opens a malicious
email a program is automatically installed in his/her computer. These programs collect login id or other financial
information which is used to conduct a range of criminal activities such as credit card cloning or unauthorized funds
transfer.

Spyware and Adware

Spyware is a type of software that secretly collects user information while on the internet and relays this data to
other parties.
RBI INITIATIVES
1. Customer induced options may be provided for fixing a cap on the value and mode of transactions/beneficiaries.
Additional authorization may be instead when the customer wants to exceed the cap
2. Limiting the number of beneficiaries to be added per day to be considered
3. System alert to be introduced for beneficiary addition
4. Number of transactions per day/per beneficiary may be monitored for suspicious transactions
5. Introduction of additional factor of authentication for unusual transaction to be authenticated on special
request
6. Bank may consider implementation of digital signature for large value payments for all customers, to start with
for RTGS transactions
7. IP address capture for transaction may be considered

8. When a user is not using the banking system but is still logged in for later ease – An auto-logout feature will

trigger a session expiry after a certain time of inactivity.