RBI Sets up Committee to Review Fee Structure for White-Label ATMs

Current Context: The Reserve Bank of India (RBI) has established a committee to review the fee structure for white-label ATMs (WLAs).

• This committee, led by Indian Banks’ Association CEO Sunil Mehta, aims to propose a fair and sustainable model.
• They will assess current policies, ATM infrastructure, and global best practices, reporting to RBI Deputy Governor T Rabi Sankar.
• The exact date of formation is not mentioned in the available information, but it was reported on July 19, 2024.
• India’s ATM market is projected to grow at a 9.2% CAGR from 2024 to 2032, with four authorized non-bank entities currently operating WLAs.

Question:

1 What is the projected Compound Annual Growth Rate (CAGR) for India’s ATM market from 2024 to 2032?

• A) 7.5%
• B) 8.0%
• C) 9.2%
• D) 10.5%

Answer: C) India’s ATM market is projected to grow at a 9.2% CAGR from 2024 to 2032, with four authorized non-bank entities currently operating WLAs.