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 to establish, own, and operate White Label ATMs nationwide. Notably, through a circular issued on 30 December 2016, the central bank permitted White Label ATM operators to source cash from retail outlets, addressing the challenges related to cash availability. At present, India has four authorized non-bank entities operating White Label ATMs, and their presence is expected to significantly enhance overall ATM penetration, especially in tier III to VI centres.

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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, …

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 …

Provide option of cardless cash withdrawal at ATMs: RBI to banks
2 years, 7 months ago

Provide option of cardless cash withdrawal at ATMs: RBI to banks

India TV News  

The Reserve Bank on Thursday asked banks to provide the option of Interoperable Card-less Cash Withdrawal at their ATMs, a move aimed at curbing frauds like skimming, card cloning and device tampering. "All banks, ATM networks and WLAOs may provide the option of ICCW at their ATMs," the central bank said in a circular. In April, the RBI had said …

India1 Payments bags licence to operate White Label ATMs
2 years, 8 months ago

India1 Payments bags licence to operate White Label ATMs

Live Mint  

India1 Payments Limited has received a perpetual licence from the Reserve Bank of India to set up, own and operate white label ATMs in India. India1 Payments Limited recently crossed the milestone of 10,000 White Label ATMs and has an installed base of 10,710 ATMs. India1 Payments Ltd. deployed over 3,000 new ATMs in the calendar year 2021 and this …

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