Airtel Payments Bank Officially Launched, Now Available Across 29 States

  • Bharti Airtel Ltd has launched its pan India payments bank.
  • The bank will be operating nationally across 29 states with a network of 250,000 banking points through Airtel retail stores.
  • A pilot payment bank program was launched by Airtel across 10,000 Airtel retail outlets in Rajasthan in November 2016.
  • Airtel Payments bank will allow customers to transact more easily with other banks, and Airtel will offer 7.25 percent interest on the deposits in the payments bank accounts.
  • Users of Airtel Money will be given the option of transferring their balance from the wallet into their Airtel payments bank accounts.
  • The bank will support account opening with Aadhar based e-KYC.
  • The customers’ mobile numbers will be their bank account numbers.
  • Customers to get one minute of talk-time for every rupee deposited at the time of opening the account.
  • No fees for Airtel to Airtel money transfers will be charged.
  • No processing fee for digital transactions via Airtel Payments Bank will be charged.