White Label Atms

Issue smaller denomination notes in rural areas: RBI to banks

Says that off-site ATMs should be allocated higher proportion of cash as against on site ATMs as they are more important in last mile currency connectivity

Tatas to launch 5,000 White Label ATMs in a year

Tata Communication‘s subsidiary Tata Communication Payment Solutions will roll out 5000 ATMs in the next one year. White label ATMs are those which do not carry the label of a bank. These are owned and operated by non-bank entities like corporates.

RBI gives 17 licences for White ATMs, Tatas to open soon

The Reserve Bank of India (RBI) has identified 17 non-bank entities out of 19 which applied for setting up White Label ATMs. Two of them including a Tata group company are expected to be operational in next few months.

RBI issues guidelines to set up White Label ATMs

In an effort to extend the reach of banking services, the Reserve Bank of India (RBI) on Wednesday issued final guidelines to set up white label ATMs (automated teller machines). With a net worth of at least Rs 100 crore, any non-bank entity can set up, own and operate these ATMs to provide services to customers of Indian banks.

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.