Foreign Direct Investment (FDI) upto 100% in White Label ATM Operations under automatic route. - FEMA - Press Note No. 11 (2015 series)

Government of India Ministry of Commerce and Industry Department of Industry Policy Promotion Press Note No. 11 (2015 series) Subject : Foreign Direct Investment (FDI) upto 100% in White Label ATM Operations under automatic route. The Government of India has reviewed the extant FDI Policy and decided to allow Foreign Investment up to 100% in White Lable ATM Operations, under the automatic route. Accordingly, a new sub-para 6.2.18.8.3 in the paragraph 6.2.18.8 of the of the Consolidated FDI Policy Circular is added in the following g Manner 6.2.18.8 Non-Banking Finance Companies (NBFC) Sector/Activity % Equity/Foreign Investment Cap Entry Route 6.2.18.8.3 White Labelled ATM Operations 100% Automatic Any non-bank entity intending to sep up WLAs should have a minimum net worth of Rs. 100 crore as per the latest financial year s audited balance sheet, which is to be maintained at all times. In case the entity is also engaged in any other 18 NBFC activities, then the foreign investment in the company setting up WLA, shall also have to comply with the minimum capitalization norms for foreign investments in NBFC activities, as provided in Para 6.2.18.8.2 FDI in the WLAO will be subject to the specific criteria and guidelines issued by RBI vide Circular No. DPSS CO PD No 2298/02 10 002/2011-2012 as amended from time to time 2. The above decision will take immediate effect. (Atul Chaturvedi) Joint Secretary to the Government of India