(a) whether the Government has notified the regulations for establishment of White Label ATMs in the country by non-banking finance companies to promote financial inclusion; and
(b) if so, the details thereof?
(a) whether the Government has notified the regulations for establishment of White Label ATMs in the country by non-banking finance companies to promote financial inclusion; and
(b) if so, the details thereof?
The Minister of State in the Ministry of Finance
(a) and (b) Reserve Bank of India (RBI) has issued guidelines regarding setting up of White Label ATMs by non-bank entities. Non-bank entities that intend setting up, owning and operating ATMs, are christened “White Label ATM Operators” (WLAO) and such ATMs are called “White Label ATMs” (WLAs). Three different schemes are available to WLAOs for setting of WLAs which incentivize setting up of WLAs in Tier III to Tier VI centres (population less than 50000). As on 31.12.2015, 11706 WLAs have been set up.
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