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SREI Infrastructure Finance Ltd has received Reserve Bank of India approvals to set up a minimum of 9,000 white label ATMs (WLAs) in the next three years in rural India.
The company said it had received a certificate of authorisation from the banking regulator to set up, own and operate a payment system for white label ATMs effective March 25.
Through these WLAs, the infrastructure financial institution will be able to take financial products and services of the sponsor bank to the doorstep of the rural population, the company said in a statement.
Following the announcement, volumes in the company’s stocks spurted more than 1.47 times on the BSE.
At 3.39 pm, SREI Infrastructure Finance shares were trading up 0.18 per cent at ₹28.35 on the BSE.
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