Muthoot Finance to invest Rs 300 cr in White Label ATMs: Media Report

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Gold loan financing company Muthoot Finance Ltd has planned to invest around Rs 300 crore for setting up 9,000 white label ATMs (WLAs) in the country in the next three years, said the media report.

"A lot of our customers would like to use ATMs and we are trying to provide the service to them. With this, we get more connect with them," Managing Director, George Alexander Muthoot told media.

Moreover, the company in September received Foreign Investment Promotion Board clearance to its application to start WLAs.

Besides, this, it has to go through a few more procedures to see ATMs being launched, said a company official.

Read more about: muthoot finance
Story first published: Thursday, November 7, 2013, 9:11 [IST]
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