May 26, 2020

Number of Entities to Set up ATM labels,

RBI Permits 4 Non bank entities to set up label ATMs; The Reserve Bank of India has issued 'Certificate of Authorization' to four non bank entities:- ( Muthoot Finance, Prizm Payment Services, Tata Communication Payment Solutions and Vakrangee Limited) to Set up White Label ATMs in the Country.                                                                              
Most of the ATMs belong to banks, but the cash dispensing machines which are owned and operated by non banking companies are called White Label ATMs.
RBI Permits Srei to roll out White Label ATMs; Srei Infrastructure Finance is  started its White Label ATM's between Uttar Pradesh and Bihar with a pilot of 200 Tire-III towns.

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