Non-Bank Entities Can Operate ATMs, Minimum net worth of Rs.100 crore

The Reserve Bank of India (RBI) on Wednesday (June 20, 2012) permitted non-banking companies to set up and operate automated teller machines (ATMs), the White-Label ATMs (WLAs), to accelerate the spread of delivery channels 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.

WLAs are ATMs set up, owned and operated by non-bank entities incorporated in India under the Companies Act. Till now, only banks were permitted to set up ATMs.

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