Payment Banks

Airtel has been steadily adding customers to their Payments Bank. However, many have complained that Airtel opens their bank account unethically. UIDAI has now sent a notice to Airtel in this regards

After Bharti Airtel launched its payments bank in January, Idea cellular has set itself a June threshold to launch payments bank operations. Interestingly, Vodafone was rumoured to go live with their payments bank in March 2017,…

Airtel Payments Bank has decided to jump into the lucrative financial products niche and will be soon selling mutual funds and insurance policies. As of now, Airtel Payments Bank has 2,50,000 banking points across India and…

Airtel is the first company in India to launch its payments bank, and Paytm is soon going to as well. Third in the line, India Post has received the payments bank license from the Reserve Bank of India(RBI) to start its commercial…

In August last year, RBI approved licenses for technology companies to open a payments bank. A payment bank can only accept deposits, not lend any money. This does have profitability issues, but a few companies went ahead with the idea.…

Payments Bank is a very new phenomenon in India – but that has not stopped hoards of Indians to open their bank accounts, even though we only have one operator running a pilot in just one state. Two weeks back, Airtel Payments bank…

RBI’s decision to grant Payment Bank licences to various business conglomerates and non-banking institutions may prove to be the one of the most pathbreaking decisions ever. A decade earlier, which financial expert could have…

Airtel has announced the pilot launch of their payments bank in Rajasthan, thereby beating Paytm in the race to launch India’s first such bank. Thousands of Airtel outlets across Rajasthan has thus been converted into Airtel’s new…

Since official launch of UPI (Unified Payment Interface) in August this year, over 20 major banks in the country have already launched their own UPI based apps or are in process of doing so. The reason for such fast adoption is the ease…

Yesterday, we had reported about Paytm’s ambitious plans to launch their Payment Bank as they are planning to open 20 crore new bank accounts within a year. They have already allocated a budget of Rs 400 crore to promote their banking…