RBI Grants Findi This License to Scale Future-Ready ATM Infrastructure Across India
FinTech BizNews Service
Mumbai, June 27, 2025: FINDI Ltd (ASX: FND), through its majority-owned Indian subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), has received a perpetual White Label ATM (WLA) license from the Reserve Bank of India. FINDI becomes only the fifth entity in over a decade to secure this approval, marking a major milestone in its journey to deepen financial access for all.
Hussain Udaipurwala, Chief Business Officer, FindiATM
This perpetual license eliminates the need for periodic renewals, enabling FINDI to make long-term, strategic investments in expanding its ATM and financial services footprint across India. It is a strong regulatory endorsement of FINDI’s robust governance, operational excellence, and its mission to deepen cash access in underserved regions.
Deepak Verma, Managing Director and CEO of FINDI Ltd, said: “We are proud to receive the RBI’s approval for a perpetual WLA license. Cash remains vital in India with circulation steady at 12% of GDP and over 60% of consumer spending still in cash. The RBI’s push to increase ₹100 and ₹200 note availability further signals the enduring role of ATMs. This license empowers us to strengthen our footprint and serve cash-reliant communities with greater reach and reliability.”
Hussain Udaipurwala, Chief Business Officer, FindiATM, said: "A perpetual regulatory license empowers us to double down on what matters: last-mile presence, operational uptime, and community trust. The RBI’s endorsement reinforces our belief that ATMs are not legacy infrastructure but a vital, evolving bridge to financial access. With this license, we’re committed to transforming FindiATM into a national backbone of inclusive banking blending reliability, scale, and future-ready innovation across India’s most underserved regions."
As FINDI continues to expand its reach and capability in India, it is also laying the foundation for long-term capital and strategic growth. FINDI Ltd (ASX: FND), through TSI, recently announced its plans for an IPO, partnering with Rothschild & Co as exclusive financial advisor, and Ambit Pvt Ltd and DAM Capital as BRLMs, with DAM Capital also acting as Left Lead.
These developments follow two strategic acquisitions in India: Indicash (Tata Communications’ White Label ATM business), now rebranded as FindiATM and BANKIT, a merchant-based payment platform for the underbanked, now operating as FindiBANKIT. Along with TSI (which specializes in Brown Label ATMs in partnership with 12 top Indian banks) form a powerful network of over 2,00,000 cash and digital payment touchpoints that FINDI currently operates in India.
