White label ATMs are run and managed by non-banking corporations which help customers of any bank to use the ATMs to withdraw money and check account balance.
TCPSL said that Kolkata will have 16 White Label ATMs (WLA) at present under the brand 'Indicash'.
TCPSL has further plans to install at least 1000 ATMs across West Bengal in the coming three years with 150 Indicash machines across districts such as Kolkata, Burdhaman, Birbhum, 24 Parganas, Hooghly, Jalpaiguri, Siliguri and Howrah in the initial phase of deployment.
The company plans to roll out 15,000 WLAs by 2016 in tier I to VI towns of India as part of its strategy of penetrating under-served areas which have negligible or minimal banking infrastructure.
Sanjeev Patel, CEO, TCPSL said, "Indicash ATMs will simplify the banking experience for the end user as ATMs have been designed to provide user friendly and intuitive consumer interface."
Indicash has a current network of 350 ATMs across eight states-Maharashtra, Karnataka, Uttar Pradesh, Tamil Nadu, Kerala, Delhi and NCR.
The company is planning to set up Indicash ATMs within the premises of its own group companies like Tata Steel plants and Westside stores.
"The second phase of the Indicash network roll out will see value added and utility services being offered to the customers. These services will be alliance based and will also increase the footfall," said Patel.
Patel asserted that TCPSL has tied with Federal Bank to meet the funding needs for its WLAs and talks are also on with two major PSU and several private banks for more tie-ups.
--IBNS (Posted on 31-10-2013)