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White Label ATMs
July 30 , 2023
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- Reserve Bank of India (RBI) has granted permission to non-bank entities to establish, own, and operate White Label ATMs (WLAs) nationwide.
- This move is aimed at enhancing banking services reach, especially in smaller towns and rural areas, and promoting financial inclusion.
- WLAs are ATMs set up, owned and operated by non-banks.
- Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the RBI.
- They provide banking services to customers using debit/credit/prepaid cards issued by banks.
- WLAs also offer services like account information, cash deposit, bill payment, mini statements, PIN change, and cheque book requests.
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