NEW DELHI: Vodafone-Idea Telecom has now decided to close Aditya Birla Payments Bank Limited after Vodafone's M Penny was shut down. Vodafone-Idea has taken this decision 17 months after the bank started. At the same time, some employees of the bank have been transferred to Aditya Birla Group companies. In a briefing to the media on behalf of Vodafone-Idea, it said that the Board of Directors has received regulatory approval sanding the business.

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It may be mentioned that Aditya Birla Is a joint venture of Payments Bank, Idea Cellular and Aditya Birla Nuvo Limited. Aditya Birla Nuvo Limited has 51 per cent shares, while Idea Cellular has 49 per cent. This includes a total of 7 payment banks running in the country. The decision to close the bank raises the question of what will happen to the customers' money now. This has been clarified by the bank.

Aditya Birla Payments Bank Limited has sent a message to its customers stating that their deposits will be refunded. The bank has made all preparations for the same. Aditya Birla Payments Bank will continue to operate with operations directed by RBI so that customers do not have any problem with withdrawal of deposits. The bank has a cash deposit of about Rs 20 crore. Customers can also get their money information in a connection by calling 18002092265. Also can e-mail on vcare4u-birla.bank.

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