1. Home
  2.  |  
  3. Economy Current Affairs  |  

Union Cabinet approved 100 percent FDI in white label ATMs through automatic route

Sep 10, 2015 09:05 IST

The Union Cabinet on 9 September 2015 approved 100 percent Foreign Direct Investment (FDI) in white label Automated Teller Machines (WLAs). White label ATMs are those that are being set up by non-bank entities.

In contrast to the earlier norm of going through the approval route, this decision by the cabinet allows foreign investments through the automatic route.

However, any non-bank entity intending to set up WLAs should have a minimum net worth of 100 crore rupees as per the latest financial year's audited balance sheet, which is to be maintained at all times.


The change in the policy guidelines is primarily aimed at extending the financial inclusion principal even to the Tier III to VI cities across the country.

The extended reach of ATMs will allow beneficiaries of the Pradhan  Mantri Jan  Dhan  Yojana to avail a wide variety of banking services like accessing their accounts for dispensing cash and non-financial services without the need for actually visiting their bank branch.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes11 People Agreed

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK