RBI allows white label ATMs to source cash from retailers

December 30, 2016 21:09

The Reserve Bank today allowed White Label ATM Operators (WLAOs) to source cash from retail outlets as they are facing difficulties in getting cash from banks post demonetisation.

Following demonetisation, most of the white label ATMs are running dry.

RBI said that it has been brought to its notice that WLAOs are having difficulties in sourcing cash from their sponsor bank(s).

"In order to facilitate cash availability for WLAOs, it has been decided to allow them to source cash from retail outlets...," the central bank said in a notification.

White label ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.

For this, WLAOs will have to enter into bilateral arrangement with retail outlets from where they desire to source cash based on their Board approved policy.

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