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White Label ATMs in India

What is White Label ATM: Reserve Bank of India (RBI) released guidelines in June 2012 for the introduction of white label ATMs (WLA). These are essentially ATMs that are owned and operated by non-banking companies and do not display any bank's branding. WLAs serve customers from all banks and will be interconnected with the entire ATM network in the country. The guidelines specified focuses on increasing rural accessibility of ATMs. Customers from any bank can withdraw cash from such white-label ATMs, with similar functioning as a bank ATM. In terms of previous rules, only banks were permitted by Reserve Bank of India (RBI) to set up ATMs as extended cash delivery channels.
Like any other bank ATM, ‘White Label ’ ATMs allows host of services like:
Cash Withdrawal
Balance Enquiry
Mini- Statement
Pin Change

Using an ‘White Label ’ ATM is just like using any Bank ATM.
Eligibility criteria for WLA Operators (WLAO):
The Memorandum of Association (MOA) of the applicant entity must cover the proposed activity of operating WLAs.
In case of any Foreign Direct Investment (FDI) in the applicant entity, necessary approval from the competent authority as required under the policy notified by Department of Industrial Policy and Promotion (DIPP) under the consolidated policy on FDI and regulations framed under the Foreign Exchange Management Act (FEMA) must be submitted while seeking authorization.
Non-bank entities must have net worth of at least Rs 100 crore as per the last audited balance sheet.
The net worth of at least Rs 100 crore has to be maintained at all times.
Some of  WLA Operators (WLAO) are: Tate Teleservices, BSNL India and other Non-Banking companies are entering in this fields.
For More updates on White Label ATMs in India Please Refer RBI Website Link


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