News

Indian Finance Ministry approves deployment of independently operated ATMs

October 16, 2011

According to the Hindustan Times, the Indian Finance Ministry has approved the deployment of independently operated ATMs throughout the country in an effort to increase the penetration of banking services.

The effort would allow customers from any bank to deposit or withdraw money from the ATMs.

"Such ATMs will help take banking services to remote places," official sources said, according to the article.

The Finance Ministry has submitted its approval to the Reserve Bank of India, which currently does not permit independently operated ATMs.

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