RBI extends authorization issued to Vakrangee for white label ATMs

The Reserve Bank of India (RBI) has provided the Renewal of Authorization for Vakrangee. RBI has extended the validity of Authorization issued to Vakrangee to setup, own and operate the White Label ATMs (WLA) in India. The validity has been extended till 31 March 2021.

RBI has assigned a target of minimum 1,000 ATMS to be deployed by Vakrangee for every calendar year starting 2020 for an initial period of three years. The ATMs deployed shall be in the ratio of 1:2:3 would be applicable for Metro & Urban, Semi-Urban and Rural regions respectively.

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