Airtel has announced that it's Airtel Payments Bank has been categorised as Scheduled Bank by the Reserve Bank of India.
With this, Airtel Payments bank will be able to pitch for government-issued Requests for Proposals (RFP) and primary auctions, undertake both Central and State Government business, besides participating in government-operated welfare schemes.
Airtel Payments Bank is one of the fast digital banks of India, with around 115 million user base. The bank announced that they turned profitable in the ending quarter of 2021 in the month of September. The bank offers a number of suite for digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighbourhood banking points.
Anubrata Biswas, MD and CEO of Airtel Payments Bank said, “This status is an important milestone in our growth journey and will further reinforce the trust our customers have placed with the bank. We are thankful to 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 which is secure and rewarding. Customers can open an Airtel Payments Bank account within a few minutes with a video call from the Airtel Thanks app. The bank offers a digital savings program - Rewards123, which offers value to customers when they transact digitally via using the respected account. Furthermore, customers can easily enable Airtel Safe Pay for making digital payments.
