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Published on February 15, 2012
New Delhi: In a move to accelerate the growth and penetrations of ATMs across the country, the Reserve Bank of India, RBI has issued draft guidelines for permitting non-banking entities to set up, own and operate such money dispensing machines.
Non-bank entities proposing to set up such service will have a minimum net worth of Rs 100 crore and they have to apply to RBI for seeking authorisation under the Payment and Settlement Systems Act 2007.
The RBI in its guidelines has said that such ATMs will be in the nature of White Label Automated Teller Machines-WLAs and will provide ATM services to customers of all banks.