CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. Public sector lender Canara Bank has launched the first OTP facility for ATM withdrawals. In order to offer a more secured and safe system, Canara bank will activate OTP facility for cash withdrawals of Rs 10,000 or more in a day.

Detailed explanation-2: -India’s largest private sector bank, ICICI launched the “ATM on Wheels” country first Mobile ATM, in Mumbai. It was connected to the bank through the GPRS technology.

Detailed explanation-3: -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.

Detailed explanation-4: -The OTP is a four-digit number that authenticates the user for a single transaction. The SBI cardholder must enter the OTP received on his/her mobile number registered with the bank in this screen for withdrawing the cash. This will protect SBI cardholders from unauthorized ATM cash withdrawals.

Detailed explanation-5: -That restriction was lifted fifty years ago today, on 27 June 1967, when the world’s first ATM (automated teller machine) was ceremoniously unveiled at a branch of Barclays Bank in Enfield, north London.