Consider the following Statement(s) regarding ‘White-label ATMs’

  1. White label ATMs refer to the machines which are owned by private operators seeking to earn a rent from banks for transactions carried out by their customers.
  2. The investment, installation and maintenance of a White label ATM is by a private operator but the licence and branding is of a commercial bank.

Which of the above Statement(s) is/are correct?

[A] Only 1
[B] Only 2
[C] Both 1 and 2
[D] Neither 1 nor 2

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