Relaxing the norms further, the central bank has allowed these WLA to buy wholesale cash above Rs 1 lakh directly from the RBI and currency chests.
After a review of the existing norms concerning the white label ATMs (WLA), the Reserve Bank of India (RBI) has decided to allow them to offer other services as well including bill payments and Interoperable Cash Deposit, subject to technical feasibility and certification by National Payments Corporation of India (NPCI). The move is expected to enhance the viability of WLAs, said RBI in a statement.
Relaxing the norms further, the central bank has allowed these WLA to buy wholesale cash above Rs 1 lakh directly from the RBI and currency chests. WLAs can also now source cash from any scheduled bank, including Cooperative Banks and Regional Rural Bank, RBI added.
These ATMS are operated by non-bank entities and provide banking services to the customers of banks in India, based on the cards (debit/credit/prepaid) issued by banks.
The WLAs has also been allowed to advertise non-financial products and services within its premises, except the main sign board. However, they need to ensure that the advertisements running on the screen disappear once the customer starts a transaction, said RBI in a statement.
The RBI has also allowed banks to issue co-branded ATM cards in partnership with the authorised WLA operators and extend the benefit of ‘on-us’ transactions to their WLAs as well.
“All guidelines, safeguards, standards and control measures applicable to banks relating to (a) currency handling, and (b) cyber-security framework for ATMs, shall also be applicable to the WLA Operators,” said RBI .
However, at the same time, the central bank has repealed the permission given to WLA operators to source cash from retail outlets.