Setting up ATMs without Licensing by RBI

The RBI has lifted the licensing procedure for setting up of ATMs by Banks in India with immediate effect.As we all know that since April 1st 2009, free cash withdrawals from any ATM anywhere in India was permitted by RBI. This will facilitate Foreign Banks especially to setup ATMs freely swiftly anywhere if the Bank finds a good location. This will improve the visibility for every bank and benefit the depositors the most and the Banks will also benefit from cost cutting and long waiting for opening a fullfledged branch.