Finance Minister Arun Jaitley scheduled to Launch Airtel Payments Bank in Delhi on 12 January. Airtel’s Payment Bank, which has been running pilot services in four states.
Airtel sent out media invites for the launch of India’s first payments bank by Arun Jaitley.
The first Airtel payments bank pilot was started in Rajasthan on November 23, 2016 and later then in Karnataka, Andhra Pradesh and Telangana.
On April 11,2016 Airtel become the first to receives a payment bank license from Reserve Bank Of India (RBI). To expands its payments bank service they took the deep penetration in rural areas.
Under pilot phase, Airtel Payments Bank announced interest rate of 7.25 percent on deposits, free money transfer from Airtel to Airtel numbers within Airtel Bank, money transfer to any bank account in India.
Accounts can be opened using Aadhar based e-Know your customer service without submitting any paper document. For Airtel customers, account numbers will same as their mobile number.
Airtel also attracted its mobile customers to open payments bank accounts by offering them one minute of talk time on his/her Airtel mobile for every rupee deposited in the first transaction.
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