CURRENT AFFAIRS

Detailed explanation-1: -The first bank cards were ATM cards issued by Barclays in London, in 1967, and by Chemical Bank in Long Island, New York, in 1969.

Detailed explanation-2: -Debit cards, which could be used anywhere a credit card was accepted, were first introduced in Canada by Saskatchewan Credit Unions in 1982. In the early 1990s, pilot projects were conducted among Canada’s six largest banks to gauge security, accuracy and feasibility of the Interac system.

Detailed explanation-3: -Credit cards, debit cards, prepaid travel cards and cash are all accepted in Mexico. Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases.

Detailed explanation-4: -ICICI Bank was the first to introduce a debit card in India.