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Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. [3] The company is a subsidiary of Bharti Airtel . [ 4 ] On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India under the second schedule of RBI Act, 1934 .
Paytm Payments Bank and Airtel Payments Bank together command over 88% of the deposits in payment banks in India in 2018. According to the Reserve Bank of India's report on ‘Trend and progress of Banking in India 2017-2018', the payment banks reported losses in the financial year 2017-2018, after a weak performance in the FY 2016-17. [14]
Paytm Payments Bank (PPBL) was an Indian payments bank, founded in 2017 and headquartered in Noida. [3] In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. [4] [5] [6] In 2021, the bank received a scheduled bank status from the RBI. [7] [8]
He invested in YTS Solutions, [3] a banking company focused on individuals without active bank accounts in India. In 2014, he applied to the Reserve Bank of India (RBI) for a small finance bank license. [4] In 2015, he became the CEO of Airtel Money Services Limited, which was later renamed Airtel Payments Bank. [5]
The Unique Identification Authority of India (UIDAI) suspended Bharti Airtel and Airtel Payments Bank Limited's licence for eKYC of Aadhaar on 16 December 2017, following complaints from customers that their accounts were being opened without their consent. Some even received their LPG subsidies in their Airtel Payments Bank accounts. [124]
PhonePe Type of business Private Type of site Digital payments & Financial services Available in Multilingual (11) Founded 2015 ; 10 years ago (2015) Headquarters Salarpuria Softzone, Bengaluru, Karnataka, India Area served India Founder(s) Sameer Nigam (Co-Founder & CEO) Rahul Chari (Co-Founder & CTO) Burzin Engineer (Co-Founder & CRO) Industry Fintech, Financial services, Payment gateway ...
Airtel Uganda Limited is a mobile communications and information technology services provider in Uganda. The company also offers mobile funds transfer and banking services known as Airtel Payments Bank. Airtel Uganda Limited is a subsidiary of Airtel Africa PLC. [3]
In early 2012, Vittal re-joined Bharti Airtel, as a Director in charge of special projects and international business strategy. [5] He spent most of 2012 and early 2013 at Singtel. In early 2013, Airtel announced that Vittal would be the next CEO of Airtel India. He took over as the CEO on 1 March 2013.