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An ATM in India is called a ''shillong''.

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13y ago

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What does ATM stand for in the banking system in India?

ATM- Automated Teller Machine


What does word ATM mean in India?

In computing;Asynchronous Transfer Mode(ATM)But in India;Automated Teller Machine(ATM)


Who invented ATM in India?

The first Automated Teller Machine (ATM) in India was installed in 1987 by the Punjab National Bank (PNB) in Mumbai. The initiative was led by Dr. Raghuram Rajan, who played a significant role in the introduction of this technology to the Indian banking sector. The ATM allowed customers to access their bank accounts and perform transactions without the need for bank personnel. This innovation marked a significant step in modernizing banking services in India.


What does ATM mean in India?

Automatic Teller Machine - it dispenses cash and can also take deposits or checks/cheques and cash. You may see store offering payment by EFT-POS which means Electronic Funds Transfer - Point of Sale which is known as Debit card in the USA.


What facility allows a customer of a bank to withdraw money day and night in India?

In India, Automated Teller Machines (ATMs) allow customers to withdraw money at any time, day or night. These machines are widely accessible and provide a convenient way to access cash without needing to visit a bank branch during business hours. Many ATMs also offer additional services such as balance inquiries and fund transfers.


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