Even as banks tried to make a point to IRDA on zonal delimitation and monitoring of their books while RBI was their regulator, the Reserve Bank in the meantime, apart from keeping an eye on the not so bad NPA situation where NPAs have grown by INR 467 bln in 5 years or 91% ( Bad Loans = 90 days due) and the good liquidity situation for India where spreads are an always ok 150 bp, approved a new added appendage to our growing cash and payments systems.

White Label ATMs will be allowed to operate across the country giving more jobs to frustrated Citibankers and cash ferrying companies like Brinks Arya for interchange fee. The ATMs will not deploy according to banks which have been stymied by the economic cost of adding ATMs but will charge for each transaction perhaps at or above the rates of Rs 20 per ATM transaction, and not include the five freee transactions Bank ATMs promise you.

Citi did buy the 7-11 ATMs in the US ( over 6000 of them) in after 10 years of simple growht mechanics of these ubiquitous machines in the US. I lke the new SV Road stationon the Bengaluru metro where the ATms from HDFC Bank are so neatly placed on all entrances and exits along with the cash chargng machines for your ticket cards.

Posted via email from The India Investment Post