After the approval from Reserve bank of India a non banking financial company (NBFC) Prizm Payment launched ATM in country. The company reported that they planning to establish 10,000 ATMs across the country.
The RBI measure to start up the white label ATMs in the country is a positive step. This will help the people in making transaction easily, and will provide comfort to those who are not holding any credit and have no access to ATMs for making banking transactions.
Initially these white labels will offer basic banking services like cash withdrawal, PIN change, MINI statements etc. Further they will add value added services for the easiness of the customers. At present Prizm is leading company in the country with around 21,000 ATMs. The Prizm Company is trying to avail the people in rural areas with banking facilities by establishing ATMs in semi-urban and rural areas.