RBI extends authorization issued to Vakrangee to own and operate WLA

The Reserve Bank of India (RBI) has extended the validity of authorization issued to IT service management company Vakrangee, to setup, own and operate the White Label ATMs (WLA) in India.

The validity of authorization has been extended till 31 March 2021. RBI has assigned a target of minimum 1,000 ATMS to be deployed by Vakrangee for three years starting from 2020, with the stipulated ratio in Metro & Urban, Semi-Urban and Rural regions.