(Last Updated On: February 27, 2016)
White Label ATMs
The Reserve Bank of India (RBI) has issued guidelines regarding setting up of White Label ATMs by non-bank entities. Non-bank entities that intend setting up, owning and operating ATMs, are christened “White Label ATM Operators” (WLAO) and such ATMs are called “While Label ATMs” (WLAs). Three different schemes are available to WLAOs for setting of WLAs which incentivize setting up of WLAs in Tier III to Tier VI centres (population less than 50000). As on 31.12.2015, 11706 WLAs have been set up.
There are 1.26 lakh Bank Mitras in rural areas of the country who are equipped with either fixed points kiosks or micro ATMs which can be conveniently carried from place to place.
This was stated by Shri Jayant Sinha, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.
Source Ministry of Finance 26-February, 2016