You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Private-party ATMs to come up soon

DNMUM236491 | 2/15/2012 | Author : Vishwanath Nair | WC :283

  • Packaged Content
  • Private-party ATMs to come up soon

  • Note: Buying this story will also give you the same reproduction rights for these images, without any additional cost.



The Reserve Bank of India on Tuesday issued draft rules for 'white label' ATMs — to be set up by private service providers, and not owned or linked to any bank.
Customers of any bank can withdraw money from such ATMs, and the machines will display the charges that will be levied on transactions beforehand on their display screens.
But white-label ATM operators will not be entitled to any charges other than the interchange fee payable under the current system.
Currently, only the first five transactions in a month at ATMs not belonging to one's bank are free and all subsequent transactions are charged @Rs 20 per transaction. Customers can make any number of transactions at ATMs belonging to their bank.

Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

YES Bank launches fresh QIP issue
DNMUM385432 | 3/24/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :323

Mumbai: YES Bank, the fifth largest private sector bank by assets, has launched a Qualified Institutional Placement (QIP) issue of up to $650 million, six months after a similar attempt to raise funds failed to take off.
The base size of the sal
Add To LightboxCalculate Price

`20K cr loans on platter for ARCs
DNMUM385433 | 3/24/2017 12:00:00 AM | Author : Manju AB | WC :627

Mumbai: Banks have enhanced their efforts for debt recovery from companies, setting aside nearly Rs 20,000 crore worth of loans to sell to asset reconstruction companies (ARCs) in the fourth quarter.
Recoveries for industrial units and bigger comp
Add To LightboxCalculate Price

Airtel acquires Tikona’s 4G, BWA biz to take on RJio
DNMUM385434 | 3/24/2017 12:00:00 AM | Author : Praveena Sharma | WC :427

New Delhi: After the mega-merger announced by Vodafone Plc and Aditya Birla’s Idea Cellular early this week, Bharti Airtel on Thursday said it had inked a “definitive agreement” with Mumbai-based network solution provider Tikona Digital Networks to
Add To LightboxCalculate Price

Engineering goods propel India’s export shipments
DNMUM385435 | 3/24/2017 12:00:00 AM | Author : Sumit Moitra | WC :347

Kolkata: A significant uptick in the demand for engineering and value-added iron and steel exports is helping boost country’s total shipments.“Recent jump in exports growth to 17.5% in February is partly due to base effect (9.7%) and partly due to a
Add To LightboxCalculate Price