4  BIS Review 137/2007  You would recall that under the old authorisation policy, the banks were free to install off-site ATMs, at the places of their choice, without the prior approval of the RBI but only needed a licence from the concerned Regional Office of the RBI before operationalising the ATM, so as to ensure compliance with the provisions of Section 23 of the B R Act.
The public finance position plays a particular role in this assessment. The fiscal criteria have to be met on a sustainable basis, in other words not just at the beginning of stage 3. Finally, the member states must implement the crucially necessary reform of their labour markets and in general significantly cut back the dense jungle of overregulation.