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RBI allows Tata Comm arm to set up white label ATMs

Under the new guidelines, certain minimum number of WLAs need to be installed in these areas within a year as per the Scheme opted.

May 04, 2013 10:27 IST | India Infoline News Service

Tata Communications Payment Solutions Limited, Mumbai; a subsidiary of Tata Communications Limited, has been issued Certificate of Authorisation by the Reserve Bank for setting up and operating White Label ATMs (WLAs) in India.

Earlier in June 2012, the Reserve Bank of India had issued policy guidelines permitting non-bank entities to set up and operate WLAs in the country after seeking Authorisation under the Payment and Settlement Systems Act, 2007. Hitherto, only banks were permitted to set up and operate ATMs in India. The primary objective of permitting non-banks to operate WLAs was to enhance the spread of ATMs in semi-urban and rural areas (mainly tier III to VI cities/towns), where bank owned ATM penetration was not growing.

Under the new guidelines, certain minimum number of WLAs need to be installed in these areas within a year as per the Scheme opted.

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