CURRENT AFFAIRS

Detailed explanation-1: -The ‘Bank on Wheels’ van will be managed by HDFC Bank staff and will offer a number of banking services, including cash deposit machine, ATM services, deposit and loan products designed specifically for rural banking customers.

Detailed explanation-2: -The Bank in Wheel initiative is a part of a pilot project to offer banking services in unbanked locations. Customers can access 21 banking products as well as services. The Bank in Wheel van will be operational at each location for a specific period and will cover 3 villages in a day.

Detailed explanation-3: -HDFC Bank’s Bank on Wheels van in Gujarat to take banking to remote villages. Ankleshwar (Gujarat), 6th September, 2022: HDFC Bank today unveiled its state-of-the art ‘Bank on Wheels’ van in Gujarat, to take banking services to unbanked villages.

Detailed explanation-4: -ICICI Bank was the first bank to introduce internet banking facility in the country in order to enable individuals and corporates to transact online without visiting the branch. It was also the first bank to start mobile banking in the country.

Detailed explanation-5: -The first ATM in India was set up in 1987 by HSBC in Mumbai. In the following ten years, about 1500 ATMs were set up in India.