What is White Label ATM?

About White Label ATM:

• Automated Teller Machines (ATMs) set up, owned and operated by non-banks are called White Label ATMs.
• Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI). 
• Such non-bank entities should have a minimum net worth of Rs 100 crore as per the latest financial year’s audited balance sheet, which is to be maintained at all times.
• Foreign Direct Investment (FDI), up to 100 per cent, is allowed under the automatic route in the activity of White Label ATM (WLA) Operations. 

Q1) What is a Foreign direct investment?

Foreign direct investments (FDIs) are substantial, lasting investments made by a company or government into a foreign concern.

Source: RBI renews authorization for white-label ATMs to Vakrangee

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