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RBI permits setup of White Label ATM’s (WLA) by Non-banking entities

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RBI has permitted setting up of WLA (White Label ATM’s) by 4 non banking entities. These 4 are Tata Communications, Muthoot finance, Prizm payment services and Vakrangee ltd.

Until now, permission for ATM’s was only given to banks. The reason for the move is to spread the reach of ATM’s in Tier 2, 3 and 4 areas. The name WLA is specific to non banking entities.

  • Devdatta

    This is an old news. I have seen the Tata Indicash ATM in my area up since at least 4 months.

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