NEWS & ADVICE : CREDIT CARDS
Srei, Vakrangee Software gets RBI’s nod to set up ATMs
By Ankit Sharma
Apr 8, 2013
Print    Email    RSS   

Srei Infrastructure Finance and Vakrangee Software have got the Reserve Bank of India's nod for setting up automated teller machines or ATMs that will not be proprietary to a particular bank.

Apart from these two companies, Tata communications and nine other companies got the authorization to set up ‘white label ATM machines' for reaching out to the un-banked and under banked areas.

Unlike around 1 Lakh ATM machines in India, white label ATMs would not have any bank logos and they will serve customers same as a bank with same fee.

As per the RBI guidelines, the authorization of setting up white label ATMs would be initially valid for a period of one year only. The operators would be charging their customers as per bank charges.

RBI has allowed Srei to set up 9000 ATMs in rural areas of the country, aid Mr. Rajiv Aggarwal, Chief Executive Officer of Bharat Technical Solutions, a group company.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Some quick facts about CIBIL report
Safety tips to use plastic money online
Easier and faster banking through Smartphones
Increasing trend of prepaid cards in India
Credit Report: A Key Financial Indicator


WHAT IS MY ECN NO SBH AC NO 52125401960
I want my credit card statemet
i forgot my userid for sbi credit card how to open...
what is my credit card statement
i forgot my ATM pin number i could i get it again
how to improve my CIBIL score???

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive