Kumbh Mela 2015 @ Nashik-Why there should be no ATMs in the Mela Area

-
            Nasik will host the 2015 Kumbh Mela. Over 30 million visitors are expected to visit the Mela area during the 2 months Mela period.

The value of commercial transactions will range from INR1 to INR10,000/-, with the average transaction expected around INR500.

            The mela visitors would mainly be interested in lodging, boarding and puja articles. Donations are another area where cash will play a major role.

            5 Reasons why there should be no ATMs in the Mela Area

01) Cost of installation is high. Mobile ATMs are an option, but the same too have to be mounted on trucks with adequate safety.
02)Operating cost is high
03)Refilling cost is high
04)Attraction for anti-social elements.
05)Promote Cash transactions


If NO ATMs, than what is the alternative? The Alternative is CHOTA ATM

a)    Chota ATM has the capability to handle both cash withdrawals and bills
b)   Installation cost is nominal
c)    Operating cost is minimal
d)   Refilling cost is negligible
e)    Safety is high


Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the ...
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Un...
Read more

IIBF introduces Self-Paced E-learning courses (SPeL) for its two certificates

-
Image
          Indian Institute of Banking Finance (IIBF) has taken a quantum leap in disseminating knowledge to its members and non-members.           IIBF in April 2019, introduced the Self-Paced E-learning courses (SPeL) concept for banking enthusiasts to be familiar with banking concepts.           In the first stage, IIBF has launched   two certificate courses i.e 1. Digital Banking and 2. Ethics in Banking.           The objective of this self-paced e-learning mode are as follows: • Participants can make the best use of his or her time, in order to meet his or her learning objectives. • Participants can access the course   anywhere/anytime with an internet connection. • Participants need not travel to give their examinations. It saves time and money of the participants. ...
Read more