RBI to allow pure white-label ATMs

As the RBI allays ts apprehensions about pure white-label ATMs, banks and third-party service providers are now looking at setting up such ATMs.

With the RBI indicating that its apprehensions relating to the rollout of pure white-label ATMs — owned and operated by private companies and outsourced by banks — have been allayed, banks and third-party service providers are now looking at setting up such ATMs.

You may soon be able to withdraw money or carry out other transactions from an Automated Teller Machine (ATM) right inside your residential complex or located at the bus stop across the road.

With the Reserve Bank of India (RBI) indicating that its apprehensions relating to the rollout of pure white-label ATMs — owned and operated by private companies and outsourced by banks — have been allayed, banks and third-party service providers are now looking at setting up such ATMs.

The new list of identified locations now includes residential complexes, hospitals, tourist locations, bus stops and railway stations.

The model being envisaged now would involve a bank or a consortium of banks looking after the settlement and cash management functions, while the service provider would invest in real estate, which is the ATM premises, the connectivity and the actual deployment of terminals.