Types of ATM:
- Bank ATM- These are owned and operated by the respective bank. For Ex. SBI Bank ATM, ICICI Bank Atm
- Brown Label ATM- When banks outsources the ATM operations to a third party, it is called brown-label ATm. They have logo of the bank.
- White Label ATM- They are owned by non-bank entities. Eg- Muthoot Finance ATM, TATA Indicash, etc. There is no bank logo.
Any non-bank entity intending to set up WLA should have minimum net worth of Rs. 100 crore
Why in News Recently ?:- 100% FDI have been allowed in WHITE LABELLED ATM.
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