Airtel Payments Bank Receives Scheduled Bank Status from RBI

Airtel Payments Bank has been classified as a regular bank by the Reserve Bank of India (RBI), paving the way for it to go into government business.

Thanks to this, Airtel Payments bank can now run government-issued requests for proposals (RFPs) and primary auctions and undertake both central and state government business in addition to participating in protection programs. social services managed by the government.

Airtel Payments Bank has a base of 115 million users. The bank became profitable in the quarter ended September 21. It offers a diverse suite of digital solutions through the Airtel Thanks app and a retail network of more than 500,000 neighborhood banking points.

Anubrata Biswas, MD and CEO of Airtel Payments Bank, said: “This status is an important step in our growth journey and will further strengthen the trust our clients have placed with the bank. We thank the Reserve Bank of India for adding us to the list of scheduled banks. “

Airtel Payments Bank offers a complete end-to-end digital banking solution.

Customers can open an Airtel Payments Bank account in minutes with a video call from the Airtel Thanks app. The bank offers a digital savings program – Rewards123, which gives customers more value when they make digital transactions using the account. Additionally, customers can easily activate Airtel Safe Pay which is touted as the safest way to make digital payments in India.

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