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.

Basic Savings Bank Deposit Account (BSBDA)

Definition and Purpose:  Under the guidelines issued on August 10,2012 by RBI, Any individual including poor or those from weaker section of the society, can open zero balance account in any bank,BSBDA guidelines are applicable to all Scheduled Commercial banks in India, including foreign banks having branches in India. The aim of  introducing ' Basic Saving Bank Deposit Account' is very much part of the efforts of RBI for furthering financial inclusion objectives. 

The Basic Savings Bank Deposit Account (BSBDA) is a type of account that aims to increase financial inclusion by providing basic banking facilities with minimum charges. There is no minimum balance requirement in BSBDA.
The main and basic facilities provided under Basic Savings Bank Deposit Account (BSBDA) are mentioned below:


Withdrawals Limit Minimum and Maximum: No requirement of minimum balance,  It is a normal banking service available to all (not only to poor people, it is for all and any one can open a BSBDA Account).Services include deposit and withdrawal of cash at bank branch as well as ATM card No limit on the number of deposits that can be made in a month; However maximum of four withdrawals in a month. Facility of ATM card or ATM-cum-Debit Card
These facilities are provided without any charge by the bank. No charge will be levied for non-operation/activation of in-operative 'Basic Savings Bank Deposit Account'. 
Relaxations in KYC norms for BSBDAs (BSBDA Small Account)
When BSBDA is opened on the basis of Simplified KYC, the accounts would be treated as "BSBDA-SMALL account".                                         
The conditions of 'BSBDA-Small Account' are:
Total of all credits in a financial year does not exceed Rs. 1 Lakh;Total of all withdrawals and transfers (Debits) in a month does not exceed Rs. 10,000; and The balance at any point of time does not exceed Rs 50,000. Small accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an Officially Valid Document. Small Accounts can only be opened at CBS linked branches of banks.

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