The Reserve Bank of India has extended the date for submission of application for deployment of White Label ATMs up to January 15, 2013. The timeline, however, has been extended only for those entities that satisfy all the other criteria stipulated in the Reserve Bank guidelines dated June 20, 2012, but are waiting for capital infusion from their overseas principals and FIPB permission. The Reserve Bank communicated this in a circular placed on its website today. The applications would be processed subject to fulfilling the net worth norms and/or obtaining FIPB approval latest by June 30, 2013.

Ajit Prasad
Assistant General Manager

Press Release : 2012-2013/1105