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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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Retail Inflation For January Eases To 5.07%, IIP for December at 7.1%

The annual retail inflation slightly eased in January to 5.07 per cent from the 17-month high hit in December, as food prices ebbed, data from the Ministry of Statistics showed on Monday. Based on Consumer price index (CPI), the inflation was at 5.21 per cent in December — a 17-month high, and 3.17 per cent in January last year. On the other hand, the growth of India’s factory production slowed in December to 7.1 per cent from a rise of 8.80 per cent in November and a 2.4 per cent…

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