The two major RBI notifications on
WLAs are RBI Circular No DPSS.CO.PD. No. 2298 / 02.10.002 / 2011-2012 dated
June 20, 2012 and DPSS.CO.PD. No. 1088 / 02.10.003 / 2013-14 dated November 14,
2013 on the captioned subject.
In the last one year, 4,000+ WLA
ATMs have been operationalised in India. Majority of the ATMs are located in
Semi-Urban and Rural Areas.
As per extant guidelines, only the
Sponsor Banks could supply ATM Fit cash to the WLAO for loading in their ATMs.
As the reach of the Sponsor Banks was limited to a certain geographical area,
the Sponsor Banks had to tie up with other commercial banks for supply of ATM
fit cash.
Such an arrangement was leading to
operational inefficiencies in the whole WLAO cycle and also increasing the operational
costs.
As a certain level of maturity has
now been reached in WLA operations by all the stake holders, the stake holders
represented to RBI for certain modifications in the operating conditions.
Based on the review of the operations of White
Label ATM (WLA) as well as representations received from the stakeholders, RBI
has decided to as under:-
- Delink
cash supply from that of sponsor bank arrangements.
- WLAO may now tie up with other
commercial banks for cash supply at WLAs.
- While the cash would be owned by the
WLAO, the responsibility of ensuring the quality and genuineness of cash
loaded at such WLAs would be that of the cash supplier bank.
- A suitable Service Level Agreements (SLA) to
be drawn up between the WLAO and
the cash supplier bank for adequate supply of genuine and good quality
notes.
- WLAOs who have been authorised under
PSS Act 2007 and have commenced operations are required to intimate RBI
regarding commencement of the services
