SREI Group which is one of the 26 Applicants for the new Indian Banking licenses had also applied for the White Label ATMs pie.
It is in the final stages of receiving Reserve Bank of India approval for White Label ATMs.
The pilot launch with 100 ATMs’ is expected in December 2012, with the commercial launch by the end of this fiscal year.
The strategy is to leverage the network of CSC (Common Service Centres) of Srei Sahaj set up in Assam, Bihar, Orissa, Tamil Nadu, Uttar Pradesh and West Bengal.
Installing ATMs in Srei Sahaj CSCs’, would lead to economies of scale and the also would ensure a captive customer base.
Srei had received in-principal approvals from the apex bank for setting up such ATMs in December 2012. Immediately on receipt of the in-principle approval, SREI appointed Bharat Technical Solutions Pvt. Ltd (BTSPL) as a Project Management Consultant for the White Label ATM rollout.
BTSPL has already released the EOI FROM MANUFACTURERS/DISTRIBUTORS/SUPPLIERS / SERVICE PROVIDERS FOR SUPPLY, INSTALLATION, COMMISSIONING, OPERATIONS AND MAINTENANCE OF 25000 WHITE LABEL ATMs
So, Indian banking customers especially in the rural arena, will have to wait till December 2013, to experience the joy of SREI ATMs’.
- RBI review: What do banks do about your ATM complaints (firstpost.com)