2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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March 31, 2021
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March 31, 2020
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April 30, 2020
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June 31, 2021
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Detailed explanation-1: -The central bank has extended the validity of authorization issued to Vakrangee to setup, own and operate White Label ATMs in India. The validity has been extended till March 31, 2024, said the company in its statement.
Detailed explanation-2: -TCPSL is Tata communications payment solutions limited was the first company to get a licence from RBI to open WLA ATM in India in Mumbai. White Label ATM (WLA) is established and run by NBFC(Non-Banking Financial Company).
Detailed explanation-3: -Financial inclusion of rural, semi-urban, and low-income people. It allowed ATM cards to be issued by any bank that can be used at White Label ATMs. WLA atm also provides mobile recharge, energy bill payments, and other value-added services.
Detailed explanation-4: -The Correct answer is ATM set up by Non-Banks. White Label ATM: ATMs set up, owned, and operated by non-banks are called white label ATMs. They are authorized under the Payment and Settlement Systems Act, 2007, by the Reserve Bank of India.
Detailed explanation-5: -Pink Label ATMs: For female customers. Brown Label ATMs: Operated by a third-party service provider.