Tag Archives: payments bank

Paytm Payments Bank offers new facility

Reported by | Updated: January 10, 2018

Paytm Payments Bank has introduced a facility for its customers whereby it will convert funds in excess of Rs 1 lakh in a customer’s savings bank account into a fixed deposit, earning higher interest rates. The payments bank has earmarked Rs 3000 crore in the next three years to create a network of 10,000 offline […]

India Post Payments Bank to open 650 branches

Reported by | Updated: October 13, 2017

The department of posts would set up 650 branches of its India Post Payments Bank while it will facilitate baking through its existing 155,000 post offices, said minister for communications Manoj Sinha. He said on the World Post Day, the payments bank already has two functional offices in Raipur and Ranchi and the opening of […]

Paytm Payments Bank has a new CEO

Reported by | Updated: May 18, 2017

Paytm Payments Bank has a new CEO. The bank has appointed Renu Satti, replacing Shinjini Kumar, who is leaving the organization. The payments bank has received the final license from the RBI and is set to launch operations on 23 May. Satti has been with Paytm for nearly a decade, staring her career as a […]

Paytm Payments Bank to start operations on 23 May

Reported by | Updated: May 17, 2017

Paytm Payments Bank announced it will start operations on 23 May. The bank said it has received the final license from the Reserve Bank of India. One97 Communications, which owns Paytm, said it will now transfer its wallet business to the payments bank. Paytm has over 218 million mobile wallet users. The company said after […]

Aditya Birla Payments Bank gets final approval

Reported by | Updated: April 5, 2017

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 […]

26 firms keen on tie-up with India Post Payments Bank

Reported by | Updated: March 29, 2017

There are at least 26 firms that are keen to partner with India Post Payments Bank. According to union communications minister Manoj Sinha these firms include both banking and non-banking companies and the government is in various stages of discussions with them. The India Post Payments Bank had opened two branches – in Raipur and […]

Airtel Payments Bank launched

Reported by | Updated: January 16, 2017

Airtel Payments Bank, a joint venture between Bharti Airtel and Kotak Mahindra Bank, will spend Rs3,000 crore to develop a pan-India banking network and digital payments ecosystem. Formally launching the operations of the payments bank, Uday Kotak, vice chairman and MD of Kotak Mahindra Bank said Airtel Payments Bank, with its reach can offer banking […]

Paytm gets final license for payments bank

Reported by | Updated: January 6, 2017

Paytm has secured the final approval from the Reserve Bank of India for launching its payments bank. The firm said it may start operations of the bank in February. Vijay Shekhar Sharma, founder of One97 Communications, which owns Paytm, said he intends to take a full-time executive role in the bank. He added that the […]

Aditya Birla Idea Payments Bank to start operations

Reported by | Updated: December 30, 2016

Aditya Birla Idea Payments Bank will start operations in the first half of 2017.  The bank is a 51:49 joint venture between Aditya Birla Nuvo and telecom company Idea Cellular. Idea Cellular chief corporate affairs officer Rajat Mukarji said the bank will be launched in the first half of 2017. In November, Airtel Payments Bank […]

Airtel Payments Bank starts service in AP, Telangana

Reported by | Updated: December 15, 2016

Airtel Payments Bank has extended its footprint to south India by rolling out pilot services in Andhra Pradesh and Telangana. The bank had earlier started a similar pilot in Rajasthan, where over 100,000 customers had opened savings accounts in less than two weeks of commencement of services. The payments bank offers basic banking services to […]