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, marking exactly 58 years ago, the first ATM (Automated Teller Machine) was introduced in Enfield, London. This machine was placed outside a Barclays Bank branch and was known as "Barclaycash." The inauguration was performed by Reg Varney, a well-known British actor from the TV show On the Buses.

Initially, the ATM allowed withdrawals of up to £10. However, it was significant because it enabled people to access cash outside of bank hours, gradually changing how the world used banking services.

How was the idea of ATM machine was conceived?

John Shepherd-Barron, born in Shillong, Meghalaya, in 1925, invented the ATM. His idea stemmed from a personal need for cash when banks were closed.

He envisioned a machine that could dispense money, similar to how vending machines dispense chocolates. He thought: “If vending machines can give out chocolates, why can’t we have one that gives out money?"

Inspired by this, he proposed the idea to Barclays Bank officials. They approved, and two years later, the first ATM was launched. This invention, born from a simple problem, revolutionied modern banking, providing global access to money at any time and place.

Where was first ATM machin in India was setup?

India's first ATM was established in 1987 at the HSBC Bank branch on Sahar Road, Mumbai. This event signaled a new era for the Indian banking system, introducing the convenience of cash withdrawals without the need for lengthy bank queues.

Following this initial implementation, ATM usage rapidly expanded nationwide. Currently, India boasts hundreds of thousands of ATMs, providing millions with round-the-clock access to banking services.