New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    When an ATM is owned and operated by non-bank entities,

    that is called ____________.
    A White Label ATM Correct Answer Incorrect Answer
    B Orange Label ATM Correct Answer Incorrect Answer
    C Brown Label ATM Correct Answer Incorrect Answer
    D Pink Lebel ATM Correct Answer Incorrect Answer
    E Green Label ATM Correct Answer Incorrect Answer

    Solution

    ATMs set up, owned and operated by non-bank entities are called white label ATMs. They are authorized under the Payment and Settlement Systems Act, 2007, by the RBI. Cash in ATMs is provided by the sponsored bank while ATM machine does not have any branding of Bank.

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