Discussion
ATMs that are owned and managed by non-banking entities are known as -
Answer: B
Correct answer: White Label ATMs
A white label ATM is owned and operated by a non-bank entity authorised by the Reserve Bank, and carries the operator's brand rather than any bank's. Cash and accounts remain with sponsor banks; the operator supplies and runs the machine and earns interchange on the transactions.
The scheme was permitted in 2012 to extend ATM coverage into smaller towns and rural areas, where banks had little commercial reason to deploy their own machines. "White label" is the general term for a product sold without the maker's brand.
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