Muthoot Finance has received Foreign Investment Promotion Board’s (FIPB) approval for its white label ATM application. The company has already received in principle nod from Reserve Bank of India (RBI).
The company will set up 9,000 ATMs in next three years and intends to roll out its first ATM next month.
Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.
