The apex bank – Reserve Bank of India agreed to allow the Kolkata-based Srei Infrastructure Finance Ltd to establish White Label ATMs in the city. Srei is one among the applicants of the new banking license. The company will establish the ATMs in the areas devoid of banking facilities.
RBI has permitted the company to own and startup the ATMs by 25th march, 14 in the city. Axis bank will be sponsoring Srei LTD. White Label ATMs are owned by NBFc and do not have label of any commercial bank. Account holders of all the banks can access and use these ATMs for making transaction and the operator will charge them as per the banking rules of charges.