The Reserve Bank of India has acceded for the installations of the white label ATMs. However, the move is unlikely to disturb the plan of HDFC Bank of rolling out its own ATMs. HDFC bank stands next only to ICICI bank, which is the largest private sector lender in the country.The white label ATMs will operate by non-banking companies. The customers will be charges for making transactions from such ATMs which are offered for free by the banks to their customers.
The development is however expected to increase the penetration and availability of ATMs in the country by manifolds.