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Review of Foreign Direct Investment (FDI) Policy - to permit FDI up to 100 percent under the automatic route in White Label ATM Operations

Dated:- 9-9-2015 - The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has given its approval to permit Foreign Direct Investment (FDI), up to 100 percent, under the automatic route, in the activity of White Label ATM (WLA) Operations subject to the following conditions: i. Any non-bank entity intending to set up WLAs should have a minimum net worth of ₹ 100 crore as per the latest financial year's audited balance sheet, which is to be maintained at all times. ii. In ca .....

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me to time. This decision, will ease and expedite foreign investment inflows in the activity and thus give a fillip to the Government's effort to promote financial inclusion in the country, including the Pradhan Mantri Jan Dhan Yojana. It is expected that consequent to ease of investing in India, adequate investments would be available in WLA Operations. This would help in the government's objective of enhancing ATM networks in semi-urban and rural areas (mainly in Tier III to VI areas). .....

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