The New Airtel Payments Bank, backed by telecom giant Bharti Airtel, recently announced that the payment bank has managed to cover 100 villages across Tamil Nadu and had Opened more than 1 Lakh accounts. 

With the Payment Bank penetrating into the rural sector, the rural people will have open access to basic banking services along with options like Digital payments, the company said. The company is much delighted to take the payment bank services to the rural areas of Tamil Nadu which were unserved till now. The company is committed to the vision of Digital India & financial inclusion," MD and CEO of Airtel Payments Bank, Shashi Arora said.

Till date, over one lakh savings accounts have been opened with Airtel Payments Bank across Tamil Nadu. A network of over 16,000 neighborhood Airtel stores offer banking services.By launching the service, Airtel Payments Bank will not charge any processing fee from its customers and merchant partners for digital transactions.Airtel Payments Bank, which was the first payments bank to go live, has committed investment of Rs 3,000 crore countrywide and plans to build digital payments with over five million merchants.

Till now, more than one lakh accounts have been opened with the Airtel Payments Bank across Tamil Nadu. A service supply chain of over 16000 Airtel payment stores has been opened to cater the banking services. According to Bank, it will not charge any processing fee from its customer base & associated merchants partners for digital transactions. Airtel Payments Bank was the sole bank to startup first & go live, the bank will be investing Rs.3000 crore nationally & have future plans to build a merchant base of over five million supporting digital transactions.

According to RBI guidelines, payments banks can only deposit maximum Rs 1 lac per account from Individual & small businesses.

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