NEWS & ADVICE : PERSONAL LOAN
Muthoot finance will be launching 100 white label ATMs
By Vaibhav Aggarwal
May 20, 2014
Print    Email    RSS   

Leading gold Finance company of the country is planning to set up 100 new white label ATMs (WLAs) across the country. WLAs are similar in working as the Normal ATMs, but they are owned by the non –banking financial companies. Earlier also Muthoot had established white label ATMs. This time muthoot is planning to establish in Rural and semi urban areas.

Last, company has established one ATM in Chennai, which was the 29th ATM established by the company. The company is planning to launch 9,000 WLAs in coming three years and set up 100 by the end of this quarter. Muthoot Finance has partnered with FIS Payment Solutions and Services India, which would act as technical partner for the project and Federal Bank Ltd as the sponsor Bank.

Muthoot Finance is one among the four companies, which got permission from the RBI to set up WLAs across the country. Besides Muthoot Tata Communications Payment Solutions Ltd, Prizm Payment Services can only set up the WLAs.


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

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Personal loans in India: Features and...
LAP or personal loan: Which one to choose?
Some admissible deductions under Income...
Carnival of Indian Personal Finance Blogs #3
Managing and emerging out of institutional...


HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive