White Label ATM may come very soon

Although we all can see ATM very close our work place and residence set up by some bank or other RBI feels that the number of ATM is still very less against the need of the Customer . Each Bank has its own plan and constraints to set up additional ATM. While some Private/ PSU Banks were very aggressive earlier when the ATM was allowed to be used by respective Banks ATM, Bank has changed the strategy after RBI directed all Banks to give access to all ATM card issued by any Banks .RBI has recently issued draft guidelines to allow none banking entities to set up such Money dispensing Machine. They will set up, maintain and operate it. Such none banking entities must have minimum net worth of INR 100 Crores. RBI has asked the views of all concerned by 6^th March after which it will issue the final guidelines. At present India has around 87000 ATM mainly catering to the urban Area, RBI want more ATM should be set up in rural area also. Such whitelevbel ATM will give access to Card issued by any Bank.