Feb 15, 2012 02:04 PM IST | Source: Moneycontrol.com

RBI allows non-banks to set up ATMs, lays draft guidelines

In a bid to expand the reach of banking services, the RBI allowed non-bank entities to open White Label ATMs (WLA) across India in line with developed countries. The regulator also laid down the draft guidelines to set up and operate those ATMs. Side by side, this move will ensure fast-paced growth of ATMs with the involvement of corporates.

Moneycontrol Bureau

In a bid to expand the reach of banking services, the Reserve Bank of India (RBI) has allowed non-bank entities to open White-Label ATMs (WLA) across India in-line with developed countries. The regulator has also laid down draft guidelines to set up and operate those ATMs. Side by side, this move will ensure fast-paced growth of the automated teller machines with involvement of corporates.

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