RBI is giving permission to establish white labeled ATMs Which of the following is true about white ...........

Economic Affairs Types of Banks and Banking

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RBI is giving permission to establish white labeled ATMs. Which of the following is true about white labeled ATMs?

It is Automatic Teller Machine which is environment friendly.

Private and public banks hold equal share in white labeled ATMs.

Non bank entities can establish white labeled ATMS.

White labeled ATMs can only be established in rural India.

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Explanation:

Third option is correct regarding white labelled ATMs i.e. Non bank entities can establish white labeled ATMS.
The white-label ATM (WLA) would allow non-banking companies to set up and run their own ATMs, under a pact with a sponsor bank and a network provider.

WLA operators can also earn extra revenue through advertisements and value-added services. Further, it allows autonomy of operators on deciding locations and creating their own brand with fixed annual targets mandated by RBI.