July 14, 2020
The reasons for these differences
The reasons for these differences are that the cost of production varies due to
many factors including the age of machines, capacity of plant, level of
automation and manpower employed," Meghwal said.The scheduled commercial banks
can also install off-site ATMs without permission of the RBI subject to certain
conditions, he added.Gangwar said the government has advised banks to deploy
micro ATMs in rural areas in all sub-service areas across the country.As on
September 30, 2016 there were 2,11,594 ATMs of banks and 14,324 white label ATMs
working across the country.. Besides, non-bank entities incorporated in India
are also allowed to set up, own and operate ATMs that are known as White Label
ATMs (WLAs).However, the pricing is reviewed periodically by the RBI and the
prices for the supply of banknotes are paid on the basis of cost plus approach,
return on investment and return on capital, he added. "There are 1,79,614 ATMs
which have been recalibrated till November 30, 2016," Minister of State for
Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha.New
Delhi: Almost 85 per cent of countrys cash dispensing machines had been
recalibrated to fit the new notes till November 30 and the government has also
advised banks to set up micro ATMs in rural areas to meet the cash need post
demonetisation, Parliament was informed today.In a separate questions reply in
the House on cost of printing currency, Minister of State for Finance Arjun Ram
Meghwal said the rates paid for printing of banknotes by different presses are
different.On being asked about the norms to set up ATMs, he said scheduled
commercial banks, excluding regional rural banks, do not need the RBI permission
to install ATMs at branches and extension counters. He also informed the color cutting
vinyl house that 1,14,036 micro ATMs have already been deployed as on
December 2, 2016
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