New Delhi: The Government of India is likely to allow 100 per cent foreign direct investment (FDI) in cash and ATM management companies, since they are not required to comply with the Private Securities Agencies Regulations Act (PSARA). This will be an advantage for cash management companies as well as for companies making currency authenticators and sorting devices and currency counting machines. In 2015, the government allowed 100 per cent FDI in white label ATM operations under the automatic route. Foreign investments help in improving balance of payments and strengthening of rupee against the dollar among other global currencies. FDI in India grew by 22 per cent to reach US$ 35.85 billion during April-December, 2016-17.
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