What is White label ATMs & who gives permission to open them?

Q.  Which of the following statements is/are correct about white label ATMs?

1. Any non-bank entity with a minimum net worth of Rs.100 crore, can apply for white label ATMs.
2. Ministry of finance gives permission to non-bank entities to open such ATMs.
- Published on 14 Sep 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: Only 1
 
RBI gives permission to non-bank entities to open such ATMs.

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