RBI formed a panel to rope in local retailers and business correspondents to act as cash points in semi-urban centers. It was headed by;

The Reserve bank of India(RBI) formed panel led by Nandan Nilekani has recommended to rope in local retailers and business correspondents to act as cash points in semi-urban centers. These will act as the primary source of cash in semi-urban centers and will replace ATMs (Automated Teller Machines). The Committee proposed the Cash In Cash Out (CICO) network. It is a network of cash disbursement points where a customer can seamlessly convert digital money to physical cash using interoperable mechanisms such as QR code and Aadhaar-enabled payment channels. This model will help in the accomplishment of New Delhi's vision of a digitally-driven cashless economy.