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RBI Extends Vakrangee's White Label ATM (WLA) Authorization Until March 2026.

Banking & Finance | Dated: 17 Feb 2025

On February 12, 2025, the Reserve Bank of India (RBI) extended the authorization of Mumbai (Maharashtra)-based Vakrangee Limited to set up, own, and operate White Label ATMs (WLAs) across India until March 31, 2026.

🎯 Key Highlights:

  • - As of January 31, 2025, Vakrangee operates 6,036 WLAs, with 76% of them located in Tier-4 to Tier-6 regions, enhancing financial accessibility in unserved and underserved areas.
  • - Vakrangee Limited provides a range of services, including banking, insurance, e-governance, e-commerce, and logistics solutions.

💡 Other Important Facts:

  • (i) The company also operates 22,395 Vakrangee Kendra outlets, with 81% of them situated in Tier-4 to Tier-6 locations.
  • (ii) Vakrangee has set a target of achieving a revenue of USD 1 billion and a gross transaction value of USD 150 billion by 2030.
  • (iii) As of December 2024, the Life Insurance Corporation of India (LIC) held a 4.41% stake in Vakrangee Limited.

📚 Test Your Knowledge:

Recently, the RBI extended the authorization of which company to operate White Label ATMs (WLAs) until March 31, 2026?

Correct Answer: Vakrangee Limited

🚀 Quick Recap: