RBI renews authorization for white label ATMs to Vakrangee
1 year, 10 months ago

RBI renews authorization for white label ATMs to Vakrangee

Live Mint  

The Reserve Bank of India has provided the Renewal of Authorization to Vakrangee Ltd, said the company on Monday. The central bank has extended the validity of authorization issued to Vakrangee to setup, own and operate White Label ATMs in India. The company currently operates 6,283 White Label ATMs and 77 per cent of these are in Tier 4 and 6 locations, said the company in its statement. "We are happy to announce the Renewal of Authorization of our White Label ATMs business by RBI. ATM is one of the key services offered in our Vakrangee Kendra Business Model and it gives confidence to our customers especially in rural and semi urban centres," said Dinesh Nandwana, MD and Group CEO of Vakrangee.

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History of this topic

Centre plans for ATM penetration across India: What are White Label ATMs and Brown Label ATMs?
1 year, 4 months ago

Centre plans for ATM penetration across India: What are White Label ATMs and Brown Label ATMs?

India TV News  

In a major initaitive to boost Automated Teller Machine penetration in tier III to VI centres in India, the Reserve Bank of India has permitted non-bank companies to set up, own and operate White Label ATMs in the country. The RBI has also encouraged more non-bank players to enter the ATMs industry by permitting WLA Operators to buy wholesome cash, …

White label ATMs set to drive ATM spread in tier III to VI centres: Karad
1 year, 4 months ago

White label ATMs set to drive ATM spread in tier III to VI centres: Karad

Live Mint  

New Delhi: White Label ATMs are expected to drive ATM spread across India with a greater focus on tier III to VI centres, said Union Minister of State for Finance, Bhagwat Kisanrao Karad, in a written reply in Rajya Sabha on Tuesday. To expand ATM access in the country, the Reserve Bank of India has granted permission to non-bank entities …

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