New SIDBI Grade A New Batch Starts on Nov 18

    Register

    Question

    What is a White Level ATM? 

    A ATMs by the same bank by which card is issued Correct Answer Incorrect Answer
    B ATMs by the other bank by which card is issued Correct Answer Incorrect Answer
    C ATMs installed by the Non-banking company Correct Answer Incorrect Answer
    D ATMs of foreign bank used by non-bank customers Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    In its attempt to hasten financial inclusion across the country, the RBI in 2011 declared to allow all non-banking entities to set up and operate their own automated teller machines (ATMs) known as White Label ATM’s Suppose you are carrying debit card issued by SBI- ·         if you are using your debit card with ATM of SBI, it is known as red label ATM ·         if you are using your debit card with ATM installed by bank other than SBI (Say ICICI bank), it is known as brown label ATM ·         if you are using your debit card with ATM installed by TATA INDICASH (they are not a bank but they have installed ATM) it is known as white label ATM

    Practice Next

    Relevant for Exams: