Muthoot Finance has forayed into the ATM business by launching its first-ever white-label Automated Teller Machine (ATM). Moreover, the company will roll out 100 ATMs on a pan-India basis by end March. Of the planned 100 ATMs by end-March, as many as 50 will come up in the South.
Further, the company will ramp up its ATM network to 9,000 in three years and in this regard the company will invest Rs 300 crore.
Apart from rolling out ATMs in its gold loan branches, the company will be located in its other business verticals, such as hotels, education and healthcare, and in public locations where the footfalls are high.
The Reserve Bank has permitted non-banking companies to set up ATMs, referred to as WLAs, to increase the penetration of the facility across the country.
Further, the company will ramp up its ATM network to 9,000 in three years and in this regard the company will invest Rs 300 crore.
Apart from rolling out ATMs in its gold loan branches, the company will be located in its other business verticals, such as hotels, education and healthcare, and in public locations where the footfalls are high.
The Reserve Bank has permitted non-banking companies to set up ATMs, referred to as WLAs, to increase the penetration of the facility across the country.
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