RBI eases business guidelines for white label ATMs
MUMBAI: RBI has eased business guidelines for white label ATMs allowing companies that manage these machines to source cashdirectly from the central bank, offer non bank services like bill payments and advertise even non financial products in their premises, increasing the revenue earning scope for these companies. White label ATM Operators (WLAO), can now source cash directly from RBI offices and currency chests, and will no longer be dependent on sponsor banks for procurement of cash. The RBI has allowed the operators to source cash from any scheduled bank including rural and cooperative banks, it…
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