Rs.100 crore net worth must to start white label ATMs

June 20, 2012 10:22 pm | Updated 10:22 pm IST - MUMBAI:

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.

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