BTI Payments Pvt. Ltd., one among the companies approved by the Reserve Bank of India (RBI) to establish 9,000 White Label Automated Teller Machines (ATMs) across the country, has set up the first facility at Gubbi in Tumkur district.
A joint venture of Australia’s Banktech group and ICICI Venture, BTI Payments installed the ATM under the brand ‘India 1 ATM’. As part of the plan to deploy ATMs even in small stores, the company has set up a machine each in shops at Tiptur and Arsikere in the district. The company hopes to deploy 100 ATMs in 90 days.
Announcing this here on Thursday, CEO and managing director of BTI Payments K. Srinivas said the first 100 ATMs would be deployed at Tumkur, Mandya and Hassan in Karnataka and Salem, Dharmapuri and Krishnagiri in Tamil Nadu.
In June 2012, the RBI issued policy guidelines permitting non-bank entities to set up and operate white label ATMs in the country. The objective of permitting non-banks to operate White Label ATMs was to enhance the spread of ATMs in semi-urban and rural areas.David Glen, managing director, Banktech Group Pvt. Ltd., and Peter Blackett, General Manager (Asia), told The Hindu that nearly half of the ATMs in Australia, Europe and the US are with non-bank entities.
