Aditya Birla Idea Payments Bank, the payments bank sponsored by the Aditya Birla Group has received the final license from the Reserve Bank of India to start operations. Aditya Birla Nuvo had set up a 51:49 joint venture with telecom major Idea Cellular to launch payments bank services in the country after the group received in-principle license from RBI. Airtel Payments Bank and India Post Payments Bank are the two other entities, which have started operations. The bank may be launched in the first half of 2017. RBI had granted final licenses to Fino Pay Tech and National Securities Depository, which were among those to get in-principle licenses. Among the original applications, Vodafone M-Pesa is the only entity yet to receive the final approval.
