telecomm india forum
    • Register
    • Login
    • Search
    • Categories
    • Recent
    • Tags
    • Popular
    • Users
    • Groups
    • Search

    Airtel Payments Bank Creates New Wave with 10000 Savings Accounts in 2 Days

    Airtel
    airtel money app airtel payments bank paytm bank
    1
    1
    916
    Loading More Posts
    • Oldest to Newest
    • Newest to Oldest
    • Most Votes
    Reply
    • Reply as topic
    Log in to reply
    This topic has been deleted. Only users with topic management privileges can see it.
    • T
      Toshi Tandon last edited by

      alt text

      Last week, Airtel Payments Bank Ltd created a new wave of payments banks after it got the license from RBI. Perhaps, it is the first company to be operated as differentiated bank accepting payments and leveraging the reach of mobile technology to service the unbanked.

      Though this pilot launch has been on a low-scale in Rajasthan, it has amassed 10,000 savings accounts in just 2 days of going live. Taking advantage of its vast retail network, Bharti Airtel turned its 10,000 stores as its banking points.

      Airtel Payments Bank is offering a personal accident insurance of 1 lakh per account and the highest interest rate of 7.25% a year on deposits held in savings accounts. While the traditional banks such as SBI, ICICI, HDFC, Axis etc are offering 4% interest.

      In a statement, Mr. Shashi Arora, MD & CEO, Airtel Payments Bank, said, “We are very encouraged with the response from customers, in particular, from semi-urban and rural areas. We believe that this differentiated banking model will offer a lot of convenience to customers and are hopeful of onboarding more and more customers in the coming days.”

      Simple, Paperless Account Opening:

      Airtel Payments Bank is following an e-KYC procedure in the opening savings account. Just visit the nearest Airtel retail store along with your Aadhaar Number. Within minutes, your account at Airtel Payments Bank is ready through electronic Know Your Customer process authenticated with your fingerprint.

      Currently, this pilot process is limited to Rajasthan and the company will make full-scale India launch next year. With this, money can be deposited and withdrawn from any Airtel outlet across the country.

      Though the payments banks can issue ATM or Debit cards, Airtel would like it to be fully digital and paperless as of now. Just visit the nearest Airtel store and withdraw money. The Airtel subscriber can access banking services via Airtel Money App on smartphones, or via USSD by dialing *400# or by calling IVR 400. If you are a non-Airtel customer then call 8800688006 and access Airtel Payments banking services using your basic feature phone.

      1 Reply Last reply Reply Quote 0
      • 1 / 1
      • First post
        Last post

      You May Also Like

      • Admin

        Airtel offers Disney+ Hotstar VIP for FREE (with Postpaid Plans)
        Airtel • disney+ hotstar subscription airtel thanks app hotstar vip • • Admin

        1
        0
        Votes
        1
        Posts
        61
        Views

        No one has replied

      • A

        Airtel Payments Bank Opens 150000 Plus Savings Accounts in West Bengal
        Airtel • airtel payments bank bharti airtel savings accounts west bengal • • Amitav Sengupta

        1
        0
        Votes
        1
        Posts
        970
        Views

        No one has replied

      • R

        Airtel Completes PAN-India 4G Footprint with 4G Services in Assam
        Airtel • assam 4g bharti airtel 4g reliance jio • • Rewati Baruah

        1
        0
        Votes
        1
        Posts
        1170
        Views

        No one has replied

      • A

        Airtel 4G Now in Durgapur Using Dual Spectrum Bands of 2300MHz and 1800MHz
        Airtel • dual spectrum band bengal circle4g 4g-advanced airtel 4g • • Amitav Sengupta

        1
        0
        Votes
        1
        Posts
        1103
        Views

        No one has replied

      • N

        Airtel Payments Bank to Extend in AP, Telangana and Karnataka
        Airtel • demonetisation airtel payments bank banking points • • Nandan Jha

        1
        0
        Votes
        1
        Posts
        961
        Views

        No one has replied

      • T

        Airtel Payments Bank offers free 1 Min Talk-time for Every Rupee on First Time Deposits
        Airtel • airtel payments bank bharti airtel free talktime airtel • • Toshi Tandon

        1
        0
        Votes
        1
        Posts
        989
        Views

        No one has replied

      • N

        Bharti Airtel Rolls Out 4G LTE Services in Jharkhand
        Airtel • airtel opennetwork 4g jharkhand airtel 4g lte bharti airtel • • Nandan Jha

        1
        0
        Votes
        1
        Posts
        1078
        Views

        No one has replied

      • Admin

        Bharti Airtel Extends its 4G Footprint in Uttar Pradesh
        Airtel • airtel 4g up bharti airtel 4g uttar pradesh 4g • • Admin

        1
        0
        Votes
        1
        Posts
        807
        Views

        No one has replied

      · ·
      Copyright © 2023 Telecomm India · Terms of Use · Privacy Policy · All Rights Reserved