White Label ATMs in India – Submission of Applications

DPSS.CO.PD. No. 1067 /02.10.002/2012-13

December 31, 2012

The Chairmen and Managing Directors / Chief Executive Officers
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks
Authorised ATM Network Operators /Card Payment Network Operators
Prospective White Label ATM Operators

Madam/Dear Sir,

White Label ATMs (WLAs) in India – Submission of applications

Please refer to the guidelines issued vide DPSS.CO.PD. No. 2298 / 02.10.002 / 2011-2012 dated June 20, 2012, DPSS.CO.PD. No.391/02.10.002/2012-13 dated August 31, 2012 and DPSS.CO.PD. No.670/02.10.002/2012-13 dated October 19, 2012 on the captioned subject.

2. We have been receiving references from some entities, having experience in some other geographies in ATM / WLA operations, for extension of time to submit their applications.

3. In view of the above and their need to get the FIPB approval for infusing capital to raise their Net worth to Rs. 100 crore, it has been decided to extend the date of submission of application to January 15, 2013. Such applications will be processed subject to fulfilling net worth norms and/or FIPB approval latest by June 30, 2013.

Yours faithfully,

(Nilima Ramteke)
General Manager

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eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

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