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

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.