Rs.100 crore net worth must to start white label ATMs
The Reserve Bank of India (RBI), on Wednesday, issued final guidelines on setting up ‘White label automated teller machines’ (WLAs) under three schemes and stipulated that entities should have a minimum net worth of Rs.100 crore as per the latest financial year’s audited balance sheet.
White Label ATMs are ATMs set up, owned and operated by non-bank entities incorporated in India under the Companies Act, 1956. Till now, only banks were permitted to set up automated teller machines (ATMs) as extended delivery channels.