|Consider the following statements regarding Brown label ATMs.|
|1. Banks outsource the ATM operations to a third party: (Brown label ATMs).|
|2. Brown label ATMs do not have any bank's logo.|
|3. Companies operating Brown lable ATMs have to separately get license/permission from RBI to run business.|
|Which of the statements) given above is/are correct?|
A) Only 1
B) 2 and 3
C) 1 and 3
D) All of these
Correct Answer: A
Solution :[a] Statement 1 is correct, Brown label ATMs are the banks outsource the ATM operations to a third party. RBI is not involved directly in issuing license/permission. The outsourcing companies have contractual obligation with respective banks. ATM has the logo of the bank which has outsourced this work. Hence, Statements 2 and 3 are incorrect.
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