Airtel Payments Bank Ltd on Wednesday Nov 23,2016 became the first to launch a payments bank service in India.
The company, a subsidiary of Bharti Enterprises that has started the service as a pilot in Rajasthan, also said it would provide an interest of 7.25% a year on deposits in the payments.
At the launch of the payments Bankservice, Payments Bank Airtel Managing Director & Chief Executive Office Shashi Arora said: “Airtel Payments Bank is fully committed to the government’s vision of financial inclusion and banking for all. We will play an important role in taking banking services to the last mile in a quick and efficient manner to benefit millions of unbanked citizens of this country. With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India. We would also like to use feedback from our customers to further improve our processes and look forward to serving them.”
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