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.