Do you know how idea of ATM machine was conceived? First ATM machine in India was set up at…, not Delhi, Kolkata, Bangaluru, Hyderabad

On June 27, 1967, the first ATM (automatic meter), which was marked 58 years ago, was introduced in Enfield, London. This machine was placed outside a Barclays Bank branch and was known as “Barclaycash”. The opening was held by Reg Varney, a well -known British actor from the TV show.

Initially, the ATM allowed with withdrawal up to £ 10. However, it enabled people to access cash outside the bank hours and gradually changed the banking services of the world.

How was the ATM machine idea designed?

In 1925, John Shepherd-Barron, who was born in Shillong in 1925, invented the ATM. The idea stemmed from the personal cash need when banks were closed.

Similar to how the car machines distribute chocolates, he designed a machine that could distribute money. “If the vending can give chocolate, why can’t we get one who gives money?” He thought.

Inspired by this, he proposed an idea for Barclays Bank officials. They approved and two years later, the first ATM was launched. This invention, which arose from a simple problem, revolutionized modern banking and has always provided global access to money.

Where was the first ATM Machin in India?

India’s first ATM was founded in 1987 at the HSBC Bank branch on Mumbai Sahar Road. This event pointed to a new era for the Indian banking system and brought with the ease of withdrawal with withdrawal without the need for long bank queues.

After this first application, the use of ATMs expanded rapidly throughout the country. Currently, India has hundreds of thousands of ATMs that provide daytime access to banking services of millions of people.