MANU/INDP/0028/2015

Ministry : Ministry of Commerce and Industry

Department/Board : Industrial Policy and Promotion

Press Note No. : 11(2015 Series)

Date : 01.10.2015

Notification/ Circulars Referred : Circular No. DPSS.CO.PD. No. 2298/02.10.002/2011-2012 MANU/RMIC/0233/2012

Citing Reference:
Circular No. DPSS.CO.PD. No. 2298/02.10.002/2011-2012 MANU/RMIC/0233/2012  Referred

Foreign Direct Investment (FDI) upto 100% in White Label ATM Operations under automatic route.

The Government of India has reviewed the extant FDI Policy and decided to allow Foreign Investment up to 100% in White Label ATM Operations, under the automatic route. Accordingly, a new sub-para 6.2.18.8.3 in the paragraph 6.2.18.8 of the of the Consolidated FDI Policy Circular is added in the following manner:-

6.2.18.8 Non-Banking Finance Companies (NBFC)

Sector/Activity	% Equity/Foreign Investment Cap	Entry Route
6.2.18.8.3 White Labelled ATM Operations	100%	Automatic

Other Conditions:

i. Any non-bank entity intending to set up WLAs should have a minimum net worth of Rs. 100 crore as per the latest financial year's audited balance sheet, which is to be maintained at all times.

ii. In case the entity is also engaged in any other 18 NBFC activities, then the foreign investment in the company setting up WLA, shall also have to comply with the minimum capitalization norms for foreign investments in NBFC activities, as provided in Para 6.2.18.8.2.