A STUDY ON ATTITUDE OF CUSTOMERS TOWARDS PLASTIC MONEY

Abstract

The sector that is the backbone and heart of a county’s economy is banking. The recent past experience reveals that India is on the fastest way in growing economy. This may due to globalization, financial deregulation and improvement in recent technology. The innovative banking technology is supposed to be the hook of the banking business elephant of India. The boon of innovation to the public in banking sector is the introduction of Asynchronized Transfer Machine cards, practically known as Automatic Teller Machine Card. The ATM cards habit is fast catching up even among the middle classes in the Country because of convenience associated with this new instrument and same is introduced by the banker for the both side benefits. ATMs are one of the ways that made the money more liquid than before. The 21st century witnessed a big boom in the ATM card usage. People prefer to carry ATM cards rather than carry cash and currency notes for safety and security. Cash transactions are considerably reduced in cities and credit transactions. But at the same time the cheque is continuing to dominate with the inland and foreign business traffic. The ATM cards and travelers' cheque show a global spread during the 21st century.