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Our Bureau Srei Infrastructure has exited the white-label ATM segment primarily on viability issues.
The company has decommissioned its existing white-label ATMs — nine-odd machines — and is planning to surrender its certificate of authorisation.
According to a stock market notification, the company said it “has decommissioned the existing WLAs and has accordingly communicated to the Department of Payment and Settlement System, Reserve Bank of India, that it would like to surrender the certificate of authorisation.”
The certificate of authorisation was issued by the RBI for setting up operations of white-label ATMs across the country under the Payment and Settlement Systems Act, 2007.
According to Hemant Kanoria, Chairman and Managing Director, Srei Infra, post demonetisation, white-label ATMs have not been viable enough.
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