Euronet seeks RBI nod for unbranded ATMs

Euronet Services india, the electronic payment solutions provider, is seeking the approval of the Reserve Bank of India (RBI) to set up unbranded or independent ATMs in the country.

Loney Antony, MD of  Euronet India, said: "We have approached RBI, and is awaiting the regulator's approval for rolling out independent ATMs, which will enable all users, irrespective of individual banks, to access the vending machines."

ATMs are being installed by individual banks, which facilitate transaction only by its account holders. The advent of independent ATMs would enable any account holder carry out transaction from any  ATM - a practise that is popular in the developed countries, said.